 reported on Friday that during the week ending May 10th, India's foreign exchange reserve (Forex) increased..){kind=link}
The Reserve Bank of India (RBI) reported on Friday that during the week ending May 10th, India’s foreign exchange reserves (Forex) increased by USD 2.561 billion to USD 644.151 billion.
After declining for three weeks in a row, the kitty grew by USD 3.66 billion to USD 641.59 billion for the previous week ending on May 3rd. Earlier the Forex had hit all time high of USD 648.562 billion for the week ended April 3rd.
As per the RBI’s recently released Weekly Statistical Supplement, the foreign currency assets (FCAs) grew by USD 1.49 billion to USD 565.65 billion. The foreign currency assets (FCA) expressed in dollar terms, include the appreciation or depreciation of non-US currencies like the euro, pound, and yen.
Furthermore, the data reveals that gold reserves have increased to USD 55.95 billion, up by USD 1.07 billion. The RBI’s data also shows that the Special Drawing Rights (SDRs) have increased by USD 5 million to USD 18.056 billion. According to the RBI’s data, India’s reserve position with the IMF has decreased by USD 4 million to USD 4.495 billion during the reporting week.