SME Times News Bureau | 18 May, 2019
Foreign exchange reserves of the country increased by $1.368
billion during the week ended May 10, official data showed on Friday.
Reserve Bank of India's weekly data shows that the overall forex reserves rose
to $420.055 billion from $418.687 billion reported for the week ended May 3.
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 $1.358 billion to $392.227 billion.
Besides the US dollar, FCAs consist of 20-30 per cent of the other major global
The RBI's weekly data showed that the value of the country's gold reserves was
stagnant at $23.021 billion.
However, the SDR value inched higher by $3 million to $1.454 billion, while the
country's reserve position with the IMF inched up by $7 million to $3.351 billion.