Mumbai: The foreign exchange reserves of India have touched a record high according to the weekly statistical supplement released by the Reserve Bank of India. As per the data released by RBI, the foreign exchange reserves surged by US dollar 3.074 billion to reach a record high of US dollar 608.081 billion in the week ended June 11.
In last year, the country’s foreign exchange reserves rose by US dollar 103 billion. India is the 5th largest reserves holding country in the world, the 12th largest foreign holder of US treasury securities and the 10th largest in terms of gold reserves.
Also Read: Report: Masks, social distancing weakened children’s immune systems
The foreign exchange reserves of India comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF). The FCAs is expressed in dollar terms. It is the largest component of the forex reserves. It includes the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.
FCAs surged by US dollar 2.567 billion to US dollar 563.457 billion. The value of the country’s gold reserves rose by US dollar 496 million to US dollar 38.101 billion. The special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by US dollar 1 million to US dollar 1.512 billion. The country’s reserve position with the IMF increased by US dollar 11 million to US dollar 5.011.
Post Your Comments