Forex reserves rise by over $3.4 bn

Top Stories

»	Passenger vehicle sales down in Aug as consumers await GST cuts, 2-wheeler sales up: SIAM
»	Nifty, Sensex open flat as investors wait for fresh cues, US Fed meet outcome
»	India’s GDP growth to remain steady at 6.5 pc, another RBI rate cut likely this fiscal
»	Extend ITR, audit deadlines due to portal glitches, compliance overload: Tax associations
»	Centre to help automobile industry expand markets, strengthen supply chains

SME Times News Bureau | 06 Jun, 2020
India's foreign exchange reserves rose by over $3.436 billion during the week ended May 29.

According to the RBI's weekly statistical supplement, the overall forex reserves increased to $493.480 billion from $490.044 billion reported for the week ended May 22.

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 $3.503 billion to $455.208 billion.

However, the value of the country's gold reserves decreased by $97 million to $32.682 billion.

Besides, the SDR value remained flat at $1.432 billion.

The country's reserve position with the IMF increased by $31 million to $4.158 billion.