India’s forex reserves rise to over $631.920 bn

Mumbai (IANS) India’s foreign exchange reserves rose by $394 million during the week ended March 4.

The Reserve Bank of India’s forex reserves rose to $631.920 billion from $631.527 billion reported for February 25.

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

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $634 million to $565.466 billion. However, the value of the country’s gold reserves decreased by $147 million to $42.320 billion.

The SDR value also declined by $59 million to $18.981 billion. In addition, the country’s reserve position with the IMF slipped by $34 million to $5.153 billion.

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