The Foreign Exchange Reserves of the country has surged. This was revealed by Reserve Bank of India (RBI). The data released by the apex bank revealed that the foreign exchange reserve of the country has rised US dollar 1.81 billion during the week ended 10 April.
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).
The overall Forex reserves increased to US dollar 476.47 billion from US dollar 474.66 billion reported for the week ended 3 April.
FCAs which is the largest component of the Forex reserves, edged higher by Us dollar 1.22 billion to US dollar 440.33 billion. Similarly, the value of the country’s gold reserves increased by US dollar 586 million to US dollar 31.13 billion.
Though the SDR value declined by US dollar 4 million to US dollar 1.42 billion, the country”s reserve position with the IMF went up by US dollar 11 million to US dollar 3.57 billion.
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