India's forex reserves go up by $ 204 million to $532.868 billion
Mumbai, October 14, 2022
After falling for nine consecutive weeks, India's foreign exchange reserves went up by $ 204 million to $ 532.868 billion in the week ended October 7, the Reserve Bank of India (RBI) said here today.
The country's forex reserves had dipped by $ 4.854 billion to $ 532.664 billion during the previous week.
In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the foreign exchange reserves, had fallen by $ 1.311 billion to $ 471.496 billion during the week.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
According to the bulletin, the country’s gold reserves went up by $ 1.350 billion to $ 38.955 billion while its special drawing rights (SDRs) rose by $ 155 million to $ 17.582 billion during the week.
India's reserve position in the International Monetary Fund (IMF) went up by $ 10 million to $ 4.836 billion, the bulletin added.