Published On: Sat, Jul 3rd, 2021

India’s forex reserves rise by over $5 bn

Mumbai: India’s foreign exchange reserves rose by $5.066 billion during the week ended June 25.

The reserves increased to $608.999 billion from $603.933 billion

According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $608.999 billion from $603.933 billion reported for the week ended June 18.

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 $4.700 billion to $566.240 billion.

Similarly, the value of the country’s gold reserves rose by $365 million to $36.296 billion.

However, the SDR value remained stagnant at $1.499 billion.

In addition, the country’s reserve position with the IMF inched up by $1 million to $4.965 billion.

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