India’s forex reserves rise by over $9 bn

Mumbai (IANS)┬áIndia’s foreign exchange reserves rose by $9.427 billion, during the week ended July 30.

According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves had decreased to $620.576 billion from $611.149 billion reported for the week ended July 23.

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 $8.596 billion to $576.224 billion.

Similarly, the value of the country’s gold reserves rose by $760 million to $37.644 billion.

The SDR value inched up by $6 million to $1.552 billion.

In addition, the country’s reserve position with the IMF increased by $65 million to $5.156 billion.

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