Mumbai: Foreign exchange reserves of India touched 20-month high during the week ended December 15. Forex reserves surged by $9.1 billion to hit a 20-month high of $615.97 billion . The Weekly Statistical Supplement released by the Reserve Bank of India (RBI) revealed this.
Forex reserves surged by $2.816 billion to hit a four-month high of $606.859 billion during the week ended December 8. In week ended on December 1, forex reserves jumped by $6.107 billion to $604.042 billion. The reserves were $597.935 billion in the preceding week ended November 24. The forex reserves were last above the $600 billion mark on August 11 this year.
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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.
The foreign currency assets increased $8.349 billion to $545.048 billion. Gold reserves were up $446 million to $47.577 billion. The Special Drawing Rights (SDRs) were up $135 million to $18.323 billion. India’s reserve position with the IMF rose $181 million to $5.023 billion.
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