Mumbai: The foreign exchange reserves of India surged by $6.306 billion to $584.755 billion for the week ended April 7. The weekly statistical supplement released by the Reserve Bank of India revealed this. The forex reserves fell by $329 million to 578.45 billion in the previous week ended on March 31.
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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The foreign currency assets increased by $4.74 billion to $514.431 billion. Gold reserves rose by $1.496 billion to $46.696 billion. The Special Drawing Rights (SDRs) were up by $58 million to $18.45 billion. The country’s reserve position with the IMF was up by $13 million to $5.178 billion.
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