India's forex reserves go up by $ 3.883 billion to $ 541.431 billion

India's forex reserves go up by $ 3.883 billion to $ 541.431 billion

Mumbai, September 5, 2020

Going up for the second consecutive week, India's foreign exchange reserves rose by $ 3.925 billion to $ 541.431 billion during the week ended August 28, the Reserve Bank of India (RBI) said here today.

The country's foreign exchange reserves had increased by $ 2.296 to $ 537.548 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 increased by $ 3.925 billion to $ 498.094 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 decreased by $ 64 million to $ 37.200 billion, while its special drawing rights (SDRs) remained unchanged at $ 1.481 billion.

The country's reserve position in the International Monetary Fund (IMF went up by $ 22 million to $ 4.657 billion, the bulletin added.

NNN

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