India’s foreign exchange reserves rise by more than $ 5 billion

Mumbai: Indian foreign exchange reserves rose $ 5.867 billion during the week ending October 9.

According to the weekly statistical supplement of the Reserve Bank of India, the reserves increased to $ 551.505 billion from $ 545.638 billion reported for the week ended October 2.

Indian foreign exchange reserves consist of foreign exchange assets (FCAs), gold reserves, special withdrawal rights (SDRs) and the country’s reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of forex reserves, rose higher by $ 5.737 billion to $ 508.783 billion.

Similarly, the value of the country’s gold reserves increased. It increased by $ 113 million to $ 36.598 billion.

In addition, the SDR value increased by $ 4 million to $ 1.480 billion.

In addition, the country’s reserve position with the IMF increased by $ 13 million to $ 4,644 billion.

Source: Gulf News

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