India's forex reserves rise by $ 233 million to $ 582.271 billion

India's forex reserves rise by $ 233 million to $ 582.271 billion

Mumbai, March 26, 2021

Maintaining an uptrend for the second consecutive week, India's foreign exchange reserves rose by $ 233 million to $ 582.271 billion during the week ended March 19, the Reserve Bank of India (RBI) said here today.

The country's forex reserves had gone up by $ 1.739 billion to $ 582.037 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 $ 157 million to $ 541.179 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 increased by $ 80 million to $ 34.631 billion, while its special drawing rights went down by $ 2 million to $ 1.499 billion.

The country's reserve position in the International Monetary Fund (IMF) reduced by $ 1 million to $ 4.961 billion, the bulletin added.

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