Published On: Fri, Jul 3rd, 2020

India’s forex reserves rise by over $1.27 bn to $506.8bn

Mumbai: India’s foreign exchange reserves increased by $1.272 billion during the week ended June 26 to $506.838 billion from $505.566 billion reported for the week ended June 19, the RBI’s weekly statistical supplement said.

The value of the country’s gold reserves increased by $7.07 million to $33.523 billion

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

On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $565 million to $467.603 billion.

Similarly, the value of the country’s gold reserves increased by $7.07 million to $33.523 billion.

However, the SDR value slipped by $3 million to $1.444 billion.

Nevertheless, the country’s reserve position with the IMF inched up by $3 million to $4.267 billion.

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