Forex reserves climb to record $538.191 bn, gold reserves up at $39.785 bn

Date:

- Sponserd Ads -

The country’s foreign exchange reserves swelled by $3.623 billion to a record high of $538.191 billion in the week ended August 7, RBI data showed on Friday.

In the previous week ended July 31, the reserves had increased by $11.938 billion to reach $534.568 billion.

The reserves had crossed the half-a-trillion mark for the first time in the week ended June 5, 2020, after it had jumped by $8.223 billion to $501.703 billion.

In the week ended August 7, the forex kitty rose on the back of gains in foreign currency assets (FCAs), a major component of the overall reserves.

FCAs rose by $1.464 billion to $492.293 billion in the reporting week, the RBI data showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves were up by $2.160 billion to $39.785 billion.

The special drawing rights with the International Monetary Fund (IMF) increased $6 million to $1.481 billion.

However, the country’s reserve position with the IMF declined by $7 million to $4.632 billion during the reporting week, the data showed.

The Indian Telegraphhttps://theindiantelegraph.com.au/
Established in 2007, The Indian Telegraph is a multi award winning digital media company based in Australia.

Share post:

Popular

More like this
Related

Miss India Australia 2021 Winner

Sanya Arora, 22 years, dermal therapist, from Melbourne, has been...

Visa changes to support the reopening of Australia and our economic recovery

The Morrison Government is making it easier for highly...

Sydney international terminal bustling once again

After nearly 600 days of closed foreign borders, I...