Forex Reserves: India's foreign exchange reserves reached record high, know what level gold reserves have reached

The country's foreign exchange reserves increased by $ 5.867 billion in the week ended October 9. With this, the country's foreign exchange reserves reached a record high of $ 551.505 billion.

16th October, 2020


The country's foreign exchange reserves increased by $ 5.867 billion in the week ended October 9. With this, the country's foreign exchange reserves reached a record high of $ 551.505 billion. This has been stated in the data released by the Reserve Bank of India (RBI). At the same time, the forex reserves had increased by $ 3.618 billion to reach the level of $ 545.638 billion in the week ended October 2.

According to the RBI data, this marked a significant increase in foreign exchange reserves due to a significant increase in Foreign Currency Assets (FCA) for the week ended October 9. The FCA rose by $ 5.737 billion to reach the level of 508.783 during the week under review.

Foreign currency assets include the effect of appreciation or depreciation in non-US currencies such as the euro, pound and yen deposited in foreign exchange reserves. FCA is shown in dollar terms.

According to the RBI data, gold reserves increased by $ 11.3 million to $ 36.598 billion in the week under review.

According to these recent figures, the country's special withdrawal rights from the International Monetary Fund (IMF) increased by $ 4 million to $ 1.480 billion in the week ending October 9. With this, the country's reserves in IMF increased by $ 130 million to reach $ 4.644 billion.

Category: Business

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Reported by:
Pankaj Prasad