Home ECONOMY India’s forex reserves rise by $950.9 mn

India’s forex reserves rise by $950.9 mn

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Mumbai, June 21:

India’s foreign exchange (forex) reserves rose by $950.9 million to $313.53 billion for the week ended June 13, led by a sharp jump in overseas currency assets, the Reserve Bank of India (RBI) data showed.Forex

According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $958.5 million to $286.58 billion.

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.

India’s reserve position with the International Monetary Fund (IMF) dropped by $2.1 million to $1.71 billion.

The value of special drawing rights (SDRs) fell by $5.5 million to $4.44 billion.

However, the value of gold reserves remained unchanged at $20.79 billion.

(IANS)