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.

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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.