Mumbai: The foreign exchange reserves of the country surged by $1.492 billion to $641.008 Billion. This was revealed by the weekly statistical supplement released by the Reserve Bank of India’s (RBI).
The foreign exchange reserves of the country comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF)
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Foreign currency assets 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 from $950 million to $577.951 billion.
The value of the country’s gold reserves gained by $557 million to $38.579 billion. The SDR value decreased by $21 million to $19.247 billion. The country’s reserve position with the IMF inched higher by $6 million to $5.231 billion.
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