India's forex reserves rise to over $448.5 bn

Source :IANS
Author :IANS
Last Updated: Sat, Nov 30th, 2019, 19:07:18hrs
India's forex reserves rise to over $448.5 bn

Mumbai: India's foreign exchange reserves rose by $347 million during the week ended November 22, official data showed on Friday.

According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves increased to $448.59 billion from $448.24 billion reported for the week ended November 15.

India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $254 million at $416.72 billion.

Similarly, the RBI's weekly data showed that the value of the country's gold reserves went up by $87 million to $26.79 billion.

Similarly, the SDR value inched up by $5 million to $1.44 billion, while, the country's reserve position with the IMF rose by $2 million to $3.63 billion.