Advertisement
Tuesday, Nov 30, 2021
Outlook.com
Outlook.com

India's Forex Reserve Increase By $2.04 Billon To Reach $639.52 Billion: RBI

India's reserve position with the International Monetary Fund fell by $3 million to about $5.23 billion in the reporting week, the data stated.

India's Forex Reserve Increase By $2.04 Billon To Reach $639.52 Billion: RBI
India's Forex Reserve Increase By $2.04 Billon To Reach $639.52 Billion: RBI
outlookindia.com
2021-10-15T18:45:11+05:30

India's foreign exchange reserves increased by about $2.04 billion to approx $639.52 billion for the week ending October 8, as per the latest data revealed by the RBI. The rise in forex reserves is attributable to the increase in foreign currency assets (FCAs). 

FCAs increased by $1.55 billion to $577.001 billion in the same time period, as per the data. FCAs include assets like the U.S. treasury bills by the apex bank using foreign currencies. It is amongst the largest component of the overall forex reserve. FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Forex reserves had dipped to approx $637.48 billion, a fall of $1.17 billion in the week ending October 1. It had spiked by about $8.9 billion to an all-time high of $642.45 billion in the week which ended on September 3.

Gold reserves were up by $464 million to $38.02 billion for the week ending October 8. 

India's reserve position with the International Monetary Fund fell by $3 million to about $5.23 billion in the reporting week, the data stated. 

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Meet Parag Agrawal: The New Indian Origin CEO Of Twitter

Meet Parag Agrawal: The New Indian Origin CEO Of Twitter

The incoming CEO is an IIT Bombay graduate who joined Twitter a decade back after having worked at Microsoft, Yahoo and AT&T in research positions.

Omicron: WHO Warns World Should Be Wide Awake

Omicron: WHO Warns World Should Be Wide Awake

WHO Director-General Tedros Adhanom Ghebreyesus said the emergence of the highly mutated omicron variant underlines just how perilous and precarious our situation is.

Omicron Scare Looms Over IND Tour Of SA, BCCI Awaits Govt Nod

Omicron Scare Looms Over IND Tour Of SA, BCCI Awaits Govt Nod

Several sporting events have been cancelled due to the new variant of the coronavirus, Omicron. India are scheduled to tour South Africa for a full series.

How New Covid-19 Variant Is Impacting Travel Across States In India

How New Covid-19 Variant Is Impacting Travel Across States In India

India has issued fresh travel restrictions for international travellers coming from 'at risk' nations in the wake of the Omicron outbreak across several countries in the world.

Advertisement