As per the data released by Reserve Bank of India (RBI), the foreign exchange reserves of the country has appreciated. The Forex reserve of Indian has rised by US dollar 3.09 billion to US dollar 479.57 billion in the week to April 17 due to an increase in foreign currency assets.
In the reporting week ended April 17, foreign currency assets (FCA), a major component of the overall reserves, rose US dollar 1.55 billion to US dollar 441.88 billion. The gold reserves increased US dollar 1.54 billion to US dollar 32.68 billion in the week.
While, special drawing rights with the International Monetary Fund,IMF were up by US dollar 3 million to US dollar 1.43 billion. The country’s reserve position with the IMF remained stable at US dollar 3.58 billion.
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