SME Times News Bureau | 17 Dec, 2019
Foreign
exchange reserves of the country continued to rise during the week ended
December 6 and touched new record highs.
The reserves rose by $2.34 billion during the week under review, official data
showed on Friday.
The Reserve Bank of India's weekly statistical supplement showed that overall
forex reserves increased to $453.42 billion from $451.08 billion reported for
the week ended November 29.
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 $1.89 billion to $421.25 billion.
The RBI's weekly data showed that the value of the country's gold reserves went
up by $430 million to $27.07 billion.
Similarly, the SDR value inched up by $5 million to $1.44 billion, while the
country's reserve position with the IMF increased by $15 million to $3.64
billion.
