According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $641.008 billion from $639.516 billion reported for the week ended 8 October.
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 $950 million to $577.951 billion.
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.
Similarly, the value of the country’s gold reserves gained by $557 million to $38.579 billion.
However, the SDR value decreased by $21 million to $19.247 billion.
Meanwhile, the country’s reserve position with the IMF inched higher by $6 million to $5.231 billion.
Source: Swarajya Magazine
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