Mumbai: The foreign exchange reserves of the country surged by $ 1.919 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 by $ 1.363 billion to $ 578.462 billion.
The value of the country’s gold reserves gained by $ 572 million to $ 39.012 billion. The SDR value decreased by $ 127 million to $ 19.304 billion. The country’s reserve position with the IMF gained by $ 1 million to $ 5.242 billion.
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