India's forex reserves rise by $ 3.378 billion to $ 545.038 billion

India's forex reserves rise by $ 3.378 billion to $ 545.038 billion

Mumbai, September 25, 2020

India's foreign exchange reserves rose by $ 3.378 billion to $ 545.038 billion during the week ended September 18, the Reserve Bank of India (RBI) said here today.

The country's forex reserves had, reversing a three-week uptrend, dipped by $ 353 million to $ 541.66 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 $ 3.943 billion.

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 down by $ 580 million to $ 37.44 billion, while its special drawing rights (SDRs) increased by $ 1 million to $ 1.483 billion.

The country's reserve position in the International Monetary Fund (IMF) rose by $ 14 million to $ 4.651 billion, the bulletin added.

NNN

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