India’s forex reserves up by over USD 1.92 billion

Mumbai

India’s foreign exchange reserves rose by $1.919 billion during the week ended October 29. The Reserve Bank of India’s (RBI) forex reserves fell to $642.019 billion from $640.100 billion reported for the week ended October 22. 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 $1.363 billion to $578.462 billion. Similarly, the value of the country’s gold reserves gained by $572 million to $39.012 billion. However, SDR value slipped by $17 million to $19.304 billion, whereas the country’s reserve position with the IMF inched-up by $1 million to $5.242 billion.