India’s Forex Reserves surge $16.66 billion to record high of $633.558 billion

0 6
India’s foreign exchange reserves rose by $16.663 billion to touch a record high of $633.558 billion in the week ended August 27, 2021, the Reserve Bank of India (RBI) data showed. According to RBI data, forex reserves rose to a record $633.558 billion, mainly due to an increase in Special Drawing Rights (SDR) holdings.  In the reporting week ended August 27, 2021, the country’s SDR holdings rose by $17.866 billion to $19.407 billion, according to weekly data released by the Reserve Bank of India (RBI) on Friday. India’s forex reserves cover Foreign Currency Assets (FCAs), Special Drawing Rights (SDRs), Gold Reserves and the country’s reserve position with the International Monetary Fund (IMF).  Foreign currency assets (FCAs), a major component of the overall reserves, fell by $1.409 billion to $571.6 billion in the reporting week. Gold reserves rose by $192 million to $37.441 billion. The country’s reserve position with the IMF rose by $14 million to $5.11 billion
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.

At The Centre of Every Trade
$59.95/month