India's forex reserves rise by $ 1.815 billion to $ 476.475 billion
Business & Economy

India's forex reserves rise by $ 1.815 billion to $ 476.475 billion

NetIndian News Network

Mumbai, April 17, 2020

India’s foreign exchange reserves rose by $ 1.815 billion to $ 476.475 billion during the week ended April 10, the Reserve Bank of India (RBI) said here today.

The country’s forex reserves had dipped by $ 902 million to $ 474.66 billion during the previous week.

In its weekly statistical supplement issued here, the central bank said that foreign currency assets, which constitute a major chunk of the foreign exchange reserves, had gone up by $ 1.222 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 $ 586 million to $ 31.136 billion while its special drawing rights (SDRs) went down by $ 4 million to $ 1.424 billion.

India’s reserve position in the International Monetary Fund (IMF) went up by $ 11 million to $ 3.578 billion, the bulletin added.

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