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Friday, August 7, 2020

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

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India's forex reserves rise to over $430 bnMumbai (IANS) 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.

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.

–IANS

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