Gold reserves rose by $ 642 million to $38.083 billion in the reporting week
RBI data shows that the country’s foreign exchange reserves increased by $ 8.895 billion to a record level of $ 642.453 billion in the week ended September 3. In the previous week ended August 27, reserves increased by $16.663 billion to $633.558 billion, due to an increase in special drawing rights (SDR) holdings. The International Monetary Fund (IMF) had allocated 12.57 billion SDR to India.
For the week ended September 3, the increase was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves, showed weekly data from the Reserve Bank of India (RBI) released on Friday. .
According to the data, FCA rose by $8.213 billion to $579.813 billion in the reporting week. Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.
According to the data, gold reserves increased by $ 642 million to $ 38.083 billion in the reporting week. Special drawing rights (SDRs) with the IMF increased by $29 million to $19.437 billion. The country’s reserve position with the IMF rose by $11 million to $5.121 billion in the reporting week, the data showed.
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