India’s Foreign Exchange Reserves Rise by Over USD 880 Million During the Week Ended August 6, Says RBI Report
India's foreign exchange reserves rose by $889 million, during the week ended August 6. According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $621.464 billion from $620.576 billion reported for the week ended July 30.
Mumbai, August 13: India's foreign exchange reserves rose by $889 million, during the week ended August 6. According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $621.464 billion from $620.576 billion reported for the week ended July 30.
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). India’s Foreign Exchange Reserves Rise by Over USD 5 Billion.
On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.508 billion to $577.732 billion. However, the value of the country's gold reserves decline by $588 million to $37.057 billion.
Similarly, the SDR value slipped by $1 million to $1.551 billion. In addition, the country's reserve position with the IMF decreased by $31 million to $5.125 billion.
(The above story first appeared on LatestLY on Aug 13, 2021 11:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).