IANS

India’s Forex reserves edge up by over $932 mn

Mumbai, Dec 7 (IANS) India’s foreign exchange (forex) reserves rose by $932.8 million during the week ended November 30, official data showed on Friday.

According to the Reserve Bank of India (RBI)’s weekly statistical supplement, the overall forex reserves increased to $393.71 billion from $392.78 billion reported for the week ended November 23.

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

FCAs, the largest component of the forex reserves, edged higher by $787.9 million to $368.48 billion during the week ended November 30.

Besides the US dollar, FCAs consist of 20-30 per cent of other major global currencies.

Similarly, the RBI’s weekly data showed that the value of the country’s gold reserves increased. It rose by $151.8 million to $21.15 billion.

However, the SDR value went down by $2.5 million to $1.45 billion, whereas the country’s reserve position with the IMF decreased by $4.4 million to $2.62 billion.

–IANS
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