India’s forex reserves rises by over $2.7 bn to $632.952 bn

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India’s foreign exchange reserves gained $2.762 billion during the week ended February 18.

The Reserve Bank of India’s forex reserves increased to $632.952 billion from $630.190 billion reported for February 11.

The country’s forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF.

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.496 billion to $567.060 billion. Similarly, the value of the country’s gold reserves increased by $1.274 billion to $41.509 billion.

However, the SDR value declined by $11 million to $19.162 billion.

The country’s reserve position with the IMF rose by $4 million to $5.221 billion.

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