Foreign exchange reserves rise by over $4 bn

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SME Times News Bureau | 21 Nov, 2020
India's foreign exchange reserves rose $4.277 billion during the week ended November 13.

According to the Reserve Bank of India's weekly statistical supplement, reserves increased to $572.771 billion from $568.494 billion reported for the week ended November 6.

India's forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $5.526 billion to $530.268 billion.

However, the value of the country's gold reserves decreased by $1.233 billion to $36.354 billion.

The SDR value remained standstill at $1.488 billion, while the country's reserve position with the IMF declined by $15 million to $4.661 billion.