India’s forex reserves up by over $4 bn

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India’s foreign exchange reserves rose by $4.344 billion during the week ended April 9.

According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $581.213 billion from $576.869 billion reported for the week ended April 2.

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 $3.017 billion to $539.455 billion.

Similarly, the value of the country’s gold reserves gained by $1.297 billion to $35.320 billion.

The SDR value inched up by $6 million at $1.492 billion.

On the same note, the country’s reserve position with the IMF inched higher by $24 million to $4.946 billion.

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