Forex reserves rise by $4.36 bn to $693 bn

India’s foreign exchange reserves rose by $4.368 billion to $693.318 billion in the week ended December 19, data released by the Reserve Bank of India (RBI) showed on Friday.In the previous week, the overall reserves had increased by $1.689 billion to $688.949 billion.For the week ended December 19, foreign currency assets (FCAs), the largest component of the reserves, grew by $1.641 billion to $559.428 billion, according to the central bank’s data.Expressed in dollar terms, FCAs reflect the impact of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the forex reserves.
According to information,the value of gold reserves also recorded a sharp increase, rising by $2.623 billion to $110.365 billion during the week, the RBI said.Special Drawing Rights (SDRs) edged up by $8 million to $18.744 billion, while India’s reserve position with the International Monetary Fund (IMF) increased by $95 million to $4.782 billion, the data showed.

(Business Correspondent)