te India's forex reserves rise by over $4 bn to $485.313 bn | Zee Business

India's forex reserves rise by over $4 bn to $485.313 bn

India's foreign exchange reserves rose by $4.235 billion during the week ended May 8th, RBI data showed on Friday.

India's forex reserves rise by over $4 bn to $485.313 bn
According to the RBI`s weekly statistical supplement, the overall forex reserves increased to $485.313 billion from $481.078 billion reported for the week ended May 1. Photo: PTI

India's foreign exchange reserves rose by $4.235 billion during the week ended May 8th, RBI data showed on Friday. According to the RBI`s weekly statistical supplement, the overall forex reserves increased to $485.313 billion from $481.078 billion reported for the week ended May 1.

India`s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India`s reserve position with the International Monetary Fund (IMF).

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On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $4.233 billion to $447.548 billion. Similarly, the value of the country`s gold reserves increased but marginally. It rose by $13 million to $32.291 billion. However, the SDR value slipped by $3 million to $1.423 billion.

In addition, the country`s reserve position with the IMF fell by $8 million to $4.051 billion.

Written By: IANS
Updated: Fri, May 15, 2020
08:14 pm
New Delhi, IANS
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