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India’s Forex Reserves : Update

India’s Forex Reserves : Update

India’s forex kitty jumps by USD 816 mln to USD 653.71 bln

  • India’s forex reserves witnessed an increase of USD 816 million, reaching USD 653.711 billion for the week ending June 21, according to the Reserve Bank of India (RBI).

Components of Forex Reserves:

  • Foreign Currency Assets (FCA): it is the major component of India’s forex reserves.
    • It has decreased by USD 106 million to USD 574.134 billion.
    • FCA expressed in dollar terms reflects the effect of appreciation or depreciation of non-US currencies like the euro, pound, and yen.
  • Gold Reserves: it has increased by USD 988 million. Total gold reserves stood at USD 956 billion during the week.
  • Special Drawing Rights (SDRs): it decreased by USD 57 million. SDRs totaled USD049 billion.
  • India’s Reserve Position with the IMF: Decreased by USD 9 million.
  • The reserve position was USD 4.572 billion.