India’s forex reserves rise by $889 million
- 14 Aug 2021
India’s foreign exchange (forex) reserves rose by $889 million, during the week ended Aug.6. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $621.464 billion from $620.576 billion reported for the week ended July 30.
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).
On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.508 billion to $577.732 billion.
However, the value of the country’s gold reserves decline by $588 million to $37.057 billion.
Similarly, the SDR value slipped by $1 million to $1.551 billion.
In addition, the country’s reserve position with the IMF decreased by $31 million to $5.125 billion.
Meanwhile India’s foreign exchange reserves rose by $835 million during the week ended July 16. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $612.730 billion from $611.895 billion reported for the week ended July 9.
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).
On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $463 million to $568.748 billion.
Similarly, the value of the country’s gold reserves rose by $377 million to $373.33 billion.
The SDR value rose by $1 million to $1.548 billion.
However, the country’s reserve position with the IMF inched lower by $7 million to $5.100 billion. Meanwhile the conglomerate Reliance Industries reported a 66.7 per cent growth in its year-on-year consolidated net profit for the quarter ended June 30.
