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Published on 11/07/2020 8:58:32 AM | Source: IANS

India`s forex reserves rise by over $6 bn

Posted in Currency Top News| #RBI #Banking Sector #Currency News

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India's foreign exchange reserves increased by $6.416 billion during the week ended July 3.

According to the RBI's weekly statistical supplement, the reserves grew to $513.254 billion from $506.838 billion reported for the week ended June 26.

India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $5.659 billion to $473.263 billion.

Similarly, the value of the country's gold reserves increased by $495 million to $34.017 billion.

The SDR value inched up by $4 million to $1.448 billion.

Additionally, the country's reserve position with the IMF grew by $259 million to $4.526 billion.