India’s foreign exchange reserves rise by $289 mn

Mumbai: India’s foreign exchange reserves rose by $289 million during the week ended November 19.

The Reserve Bank of India’s forex reserves increased to $640.401 billion from $640.112 billion reported for the week ended November 12.

India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF.

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $225 million to $575.712 billion.

Similarly, the value of the country’s gold reserves gained by $152 million to $40.391 billion.

On the other hand, the SDR value dipped by $74 million to $19.110 billion, while the country’s reserve position with the IMF inched down $13 million to $5.188 billion.

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