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India’s foreign exchange reserves increase by USD 3.62 billion

IANS
Updated: August 15th, 2020, 09:38 IST
in Business
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Mumbai: India’s foreign exchange reserves increased by $3.623 billion, during the week ended August 7.

According to the Reserve Bank of India’s weekly statistical supplement, the reserves grew to $538.191 billion from $534.568 billion reported for the week ended July 31.

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India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.464 billion to $492.293 billion.

Similarly, the value of the country’s gold reserves increased, but by $2.160 billion to $39.785 billion. The SDR value inched up by $6 million to $1.481 billion.

However, the country’s reserve position with the IMF declined by $7 million to $4.632 billion.

IANS

Tags: Foreign exchangeforexIndiaRBIReserve bank of india
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