• HDFC securities
• 03 Oct 2018
• Knowledge Centre

India's foreign exchange (forex) reserves went up by US$1.3 bn for the week ended 21st September 2018, according to the Reserve Bank of India’s (RBI) weekly statistical supplement.

 

Overall forex reserves increased to US$401.79 bn from US$400.48 bn. In the previous week, forex reserves had risen by US$ 1.207 bn to US$400.489 bn. Foreign currency assets, a major component of overall reserves, increased by US$1.257 bn to US$400.489 bn.

 

The country’s forex reserves comprise foreign currency assets, gold reserves, special drawing rights (SDRs), and the RBI's position with the International Monetary Fund (IMF). The SDRs' value rose by US$2.6 mn to US$1.48 bn, while the country's reserve position with the IMF increased by US$4.3 mn to US$2.48 bn.

 

The report showed an increase in the value of the country's gold reserves that rose by US$35.9 mn to US$20.41 bn.