The
foreign exchange (forex) reserves of India have risen by $ 2.79 billion to $ 309.44
billion for the week ended 11th April as per the data showed by Reserve
Bank of India (RBI). It’s a sharp jump in India’s foreign currency assets.
According to the weekly
statistical supplement of the RBI, the foreign currency asset which is the
biggest component of the forex reserves has risen by $ 2.74 billion to $ 281.55
billion.
The foreign
currency assets expressed in terms of US dollar include the effect of
appreciation or depreciation of non-US currencies that are held in reserve such
as the pound sterling, euro and yen.
The reserve
position of India with the International Monetary Fund (IMF) rose by $ 14.8
million to $ 1.84 billion.
The value of special
drawing rights (SDRs) has also increased by $ 35.9 million to $ 4.48 billion. But
the value of gold reserves remained unchanged at $ 21.56 billion.
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