SME Times News Bureau | 03 Jan, 2020
Foreign exchange reserves of the country continued
to rise during the week ended December 27 to touch a new record high.
The Reserve Bank of India's reserves rose by $2.52 billion during the week
under review, official data showed on Friday.
According to the RBI's weekly statistical supplement, the overall forex
reserves increased to $457.46 billion from $454.94 billion reported for the
week ended December 20.
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 $2.20 billion to $424.93 billion.
Similarly, the RBI's weekly data showed that the value of the country's gold
reserves rose by $260 million to $27.39 billion.
However, the SDR value inched lower by $2 million to $1.44 billion, while the
country's reserve position with the IMF increased by $58 million to $3.70
billion.