Tuesday, September 27, 2022

Forex reserves up by USD 3.854 bn to USD 601.363 bn

The country’s foreign exchange reserves increased by USD 3.854 billion to USD 601.363 billion in the week ended May 27, according to RBI data.
In the previous week, the reserves rose by USD 4.230 billion to USD 597.509 billion.
During the reporting week, the rise in forex reserves was due to an increase in the Foreign Currency Assets (FCA) and the gold reserves, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI) on Friday.
FCA increased by USD 3.61 billion to USD 536.988 billion in the week ended May 27.
Expressed in dollar terms, 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 increased by USD 94 million to USD 40.917 billion.
The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose by USD 132 million to USD 18.438 billion.
The country’s reserve position with the IMF also increased by USD 18 million to USD 5.019 billion in the reporting week, the data showed.