The foreign exchange reserves has touched an all-time high. This was reveled by the data released by the Reserve Bank of India (RBI).
As per the weekly statistical supplement released by the RBI, the forex reserves has surged by $3.883 billion, during the week ended 28 August. The forex reserves rose to $541.431 billion from $537.548 billion reported for the week ended 21 August.
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).
FCAs which is expressed in dollar terms, include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves. FCAs is the largest component of the forex reserves. FCAs edged higher by $3.925 million to $498.094 billion.
The value of the country’s gold reserves fell by $64 million to $37.2 billion.The nation’s reserve position with the IMF increased by $22 million to $4.657 billion.
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