Mumbai: The foreign exchange reserves of the country surged by $2.908 billion to $564.06 billion for the week ended on December 9. The weekly statistical supplement released by the Reserve Bank of India’s (RBI) revealed this. This is the fifth consecutive week of an increase in the reserves.
The foreign exchange reserves of the country comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the country’s reserve position with the International Monetary Fund (IMF). 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.
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Foreign currency assets (FCA) increased by $3.141 billion to $500.125. Gold reserves decreased by $296 million to $40.729 billion. The Special Drawing Rights (SDRs) jumped by $61 million to $18.106 billion. The country’s reserve position with the International Monetary Fund (IMF) was also up by $2 million to $5.11 billion.
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