As per the official data released, the foreign exchange reserve of the country has surged.The data released by Reserve Bank of India has revealed this. As per the daa the foreign exchange reserves continued to appreciate during the week ended 14 February to touch a new record high.
The Reserve Bank of India’s reserves rose by $3.091 billion during the week . The overall forex reserves increased to $476.092 billion from $473.94 billion. In the previous week, the foreign exchange reserves had increased by $1.701 billion to $473 billion.
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). Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
FCAs edged higher by $2.763 billion to $441.949 billion. The value of the country’s gold reserves rose by $344 million to $29.123 billion.
However, the SDR value inched lower by $6 million to $1.430 billion. The country’s reserve position with the IMF also declined by $9 million to $3.590 billion.
Post Your Comments