India`s forex reserves increase by $1.9 billion: RBI
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The Reserve Bank of India (RBI) in its latest report showed that India's forex reserves have increased by $1.919 billion to $642.019 billion for the week ended October 29 on a healthy increase in the currency assets and value of gold.
The report further noted that the overall reserves had declined by $908 million to $640.1 billion at the end of the previous reporting week. According to the report, value of the gold reserves increased by $572 million to $39.012 billion in the reporting week.
Further, foreign currency assets, a major part of the overall reserves, increased by $1.363 billion to $578.462 billion for the reporting week. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
