Mumbai: The foreign exchange reserves of India have touched an all-time 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 9.427 billion to reach an all-time high of US dollar 620.576 billion on the week end of 30 July. In the previous week that ended on July 23, the forex reserve was at US dollar 611.149 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 8.596 billion US dollar to 576.224 billion US dollar. The value of the country’s gold reserves rose by 760 million US dollar to 37.644 billion US dollar. The special drawing rights (SDRs) with the International Monetary Fund (IMF) surged by US dollar 6 million US dollar to 1.552 billion US dollar. Also, the country’s reserve position with the IMF increased by US dollar 65 million to US dollar 5.156 billion.
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