India's forex reserves rise by $ 1.919 billion to $ 642.019 billion

India's forex reserves rise by $ 1.919 billion to $ 642.019 billion

Mumbai, November 6, 2021

India's foreign exchange reserves rose by $ 1.919 billion to $ 642.019 billion during the week ended October 29, the Reserve Bank of India (RBI) said here on Friday.

The country's forex reserves had dipped by $ 908 million to $ 640.100 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 gone up by $ 1.363 billion to $ 578.462 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 $ 572 million to $ 39.012 billion, while its special drawing rights (SDRs) decreased by $ 17 million during the week.

The country's reserve position in the International Monetary Fund (IMF) went up by $ 1 million to $ 5.242 billion, the bulletin added.

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