India’s Foreign Exchange Reserves rose by $758 million to reach a record high of $586.082 billion as on January 8, RBI data showed on Friday.
As of January 1, the reserves had increased by $4.483 billion to $585.324 billion.
India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).
Foreign Currency Assets
The Foreign Currency Assets (FCAs) is the major source for the overall reserves.
Just because of FCA reserves rose by $150 million to $541.791 billion.
The foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold Reserves
The gold reserves climbed by USD 568 million to USD 37.594 billion, weekly data by the Reserve Bank of India (RBI) showed.
Special Drawing Rights
The special drawing rights (SDRs) with the International Monetary Fund (IMF) increased by USD 5 million to USD 1.515 billion.
Reserves with IMF
The country’s reserve position with the IMF rose by USD 35 million to USD 5.181 billion in the week, as per the data.
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