Home ECONOMY India’s forex reserves up $163 mn

India’s forex reserves up $163 mn

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Mumbai, July 26 :

India’s foreign exchange reserves rose by $163 million to $317.84 billion for the week ended July 19, Reserve Bank of India (RBI) data showed.

The reserves had increased by $643.2 million to $317.03 billion for the week ended July 11.reserve bank of india rbi

According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, also gained by $163 million to $291.05 billion for the week under review.

The foreign currency assets had increased gained $648.7 million to $290.22 billion in the previous week.

The RBI said that the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.

However, India’s reserve position with the International Monetary Fund (IMF) declined by $4.4 million to $1.71 billion.

The value of special drawing rights (SDRs) too fell. SDR were down $11.5 million to $4.45 billion.

The value of gold reserves remained unchanged at $20.63 billion. The gold reserves had declined by $155.5 million in value at $20.63 billion in the week ended July 4.

(IANS)

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