India’s foreign exchange reserves rise by over $2 bn

Mumbai: India’s foreign exchange reserves rose by $2.039 billion during the week ended October 8.
The Reserve Bank of India’s (RBI) forex reserves rose to $639.516 billion from $637.477 billion reported for the week ended October 1.

India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF.

Also Read

Indian delegation to Washington to continue negotiations on BTA this week

16 hours ago

Nobel economics prize goes to 3 researchers for explaining innovation-driven economic growth

16 hours ago

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.550 billion to $577.001 billion.

Similarly, the value of the country’s gold reserves rose by $464 million to $38.022 billion.

However, SDR value fell by $28 million to $19.268 billion.

The country’s reserve position with the IMF also fell by $3 million to $5.225 billion.