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.

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