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 835 million to reach a record high of US dollar 612.730 billion in the week ended June 16. In the week ended on July 9, the forex reserve was at US dollar 611.895 billion.
As per the data, 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.
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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 are 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 463 million to US dollar 568.748 billion. The value of the country’s gold reserves rose by US dollar 377 million to US dollar 373.33 billion. The special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by US dollar 1 million to US dollar 1.548 billion. However, the country’s reserve position with the IMF decreased by US dollar 7 million to US dollar 5.100 billion.
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