New Delhi: The foreign exchange reserves of the country edged higher to $ 632.95 for the week ended February 18. The weekly statistical supplement released by the Reserve Bank of India (RBI) has revealed this. As per RBI, the rise in the value of gold reserves has supported the upward rally of forex reserves.
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 (FCA) is the largest component of the forex reserves. It includes the effect of appreciation or depreciation of non-US currencies like the euro, pound, and yen held in the foreign exchange reserves and is expressed in dollar terms. FCAs rose by $ 1.496 billion to $ 567.06 billion.
Gold reserves value rose by $ 1.274 billion to $4 1.509 billion. India’s reserve position in the International Monetary Fund (IMF) surged by $ 4 million to $ 5.221 billion.
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