India’s foreign exchange reserves swell by over $4.8 billion

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $5.026 billion to $547.218 billion.
rupee dollar

Mumbai : India’s foreign exchange reserves rose by $4.852 billion during the week ended January 29.

According to the Reserve Bank of India’s weekly statistical supplement, the reserves increased to $590.185 billion from $585.334 billion reported for the week ended January 22.

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 $5.026 billion to $547.218 billion.

However, the value of the country’s gold reserves declined, by $164 million to $36.294 billion.

Besides, the SDR value stood lower by $4 million at $1.508 billion.

In addition, the country’s reserve position with the IMF decreased by $6 million to $5.165 billion.

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