India’s foreign exchange reserves rose sharply by $4.368 billion to $693.318 billion in the week ended December 19, data released by the
Reserve Bank of India showed on Friday, PTI reported.
The latest increase follows a rise of $1.689 billion in the previous week, taking the country’s overall forex buffer to its highest level in recent weeks.
Foreign currency assets (FCA), the largest component of the reserves, increased by $1.641 billion to $559.428 billion during the reported week. The RBI noted that FCA figures, expressed in dollar terms, reflect the impact of movements in non-US currencies such as the euro, pound sterling and Japanese yen held in the reserves.
Gold reserves registered a stronger gain, rising by $2.623 billion to $110.365 billion, according to the central bank data.
Special Drawing Rights (SDRs) with the International Monetary Fund edged up by $8 million to $18.744 billion, while India’s reserve position with the IMF increased by $95 million to $4.782 billion during the week.
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