Home Created by potrace 1.16, written by Peter Selinger 2001-2019News Created by potrace 1.16, written by Peter Selinger 2001-2019Business Created by potrace 1.16, written by Peter Selinger 2001-2019India’s Forex Reserves Rise By Over $3.4 Billion

India’s Forex Reserves Rise By Over $3.4 Billion

The country’s reserve position with the IMF increased by $31 million to $4.158 billion.

IANS
Business
Published:
Image used for representation purpose. 
i
Image used for representation purpose. 
(Photo: iStock)
✕

advertisement

India's foreign exchange reserves rose by over $3.436 billion during the week ended 29 May.

According to the RBI’s weekly statistical supplement, the overall forex reserves increased to $493.480 billion from $490.044 billion reported for the week ended on 22 May.

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

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $3.503 billion to $455.208 billion.

However, the value of the country's gold reserves decreased by $97 million to $32.682 billion. Besides, the SDR value remained flat at $1.432 billion.

The country's reserve position with the IMF increased by $31 million to $4.158 billion.

Also Read‘Commentary on Economic Mismanagement’: Chidambaram on GDP Dip

(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)

Published: undefined

ADVERTISEMENT
SCROLL FOR NEXT