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Home » IANS » Record High: India’s forex reserves rise to over $454 bn

Record High: India’s forex reserves rise to over $454 bn

By IANS
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Mumbai, Dec 20 (IANS) India’s foreign exchange reserves continued their upward trajectory during the week ended December 13 to touch new record highs.

The reserves rose by $1.07 billion during the week under review, official data showed on Friday.

The Reserve Bank of India’s weekly statistical supplement showed that overall forex reserves increased to $454.49 billion from $453.42 billion reported for the week ended December 6.

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

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.16 billion to $422.42 billion.

However, the RBI’s weekly data showed that the value of the country’s gold reserves declined by $110 million to $26.96 billion.

Conversely, the SDR value inched up by $2 million to $1.44 billion, while the country’s reserve position with the IMF increased by $14 million to $3.65 billion.

–IANS

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