SME Times News Bureau | 16 Aug, 2019
Foreign exchange reserves of the country increased
by $1.62 billion during the week ended August 9, according to official data released
on Friday.
According to the Reserve Bank of India's weekly statistical supplement, the
overall forex reserves rose to $430.57 billion from $428.95 billion reported
for the week ended August 2.
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).
On a weekly basis, FCAs - the largest component of the forex reserves - edged
higher by $15.2 million to $398.739 billion.
Besides the US dollar, FCAs consist of 20-30 per cent of the other major global
currencies.
The RBI's weekly data showed that the value of the country's gold reserves went
up by $1.59 billion to $26.75 billion.
Additionally, the SDR value rose by $6.7 million to $1.44 billion, while the
country's reserve position with the IMF increased by $7 million to $3.636
billion.
