16.1C
Delhi
Monday, January 18, 2021

India’s Forex reserve rises to over $420 billion

- Advertisement -

India's Forex reserve rises to over $420 billionIndia’s foreign exchange reserves increased by $1.368 billion during the week ended May 10, official data showed on Friday.

According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves rose to $420.055 billion from $418.687 billion reported for the week ended May 3.

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).

READ ALSO:  NCLAT extends Jaypee Infra resolution time, allows new bids

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.358 billion to $392.227 billion.

Besides the US dollar, FCAs consist of 20-30 per cent of the other major global currencies.

The RBI’s weekly data showed that the value of the country’s gold reserves was stagnant at $23.021 billion.

READ ALSO:  Mukesh Ambani in talks to buy several retail ecommerce firms

However, the SDR value inched higher by $3 million to $1.454 billion, while the country’s reserve position with the IMF inched up by $7 million to $3.351 billion.

IANS

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

Trending Topics In India

Covid 19 India Updates

Trending News In India

Trending Showbiz

Trending Sports

Latest Trending News In India

Juhi Chawla on WhatsApp: When anything is free, your freedom is the price

Mumbai, Jan 18 (IANS) Juhi Chawla on Monday took a jibe at social networking platforms WhatsApp and Facebook at a time when millions of...

Arm-twisting tactics won’t work: Punjab CM again warns Centre

Chandigarh, Jan 18 (IANS) Condemning the NIA notices issued to several farmers and their supporters amid the anti-farm laws agitation, Punjab Chief Minister Amarinder...

‘Vaccine won’t kill you’: AIIMS Director allays fears

New Delhi, Jan 18 (IANS) AIIMS Director Randeep Guleria on Monday allayed apprehensions about the coronavirus vaccines and assured that the side-effects will not...

We will not quarrel, but celebrate R-Day: Farmer leader Rakesh Tikait

Ghazipur, Jan 18 (IANS) The farmers protesting against the new Central farm laws have announced a 'Tractor March' on Republic Day. On Monday, the...