India's forex reserves rise by $394 million to $631.92 billion
- IBEF
- March 14, 2022
According to RBI data, the country's foreign exchange reserves climbed by US$ 394 million to US$ 631.92 billion in the week ending March 4. According to the Reserve Bank of India's (RBI) weekly figures released on Friday, the increase in reserves was owing to a growth in foreign currency assets (FCA), a major component of overall reserves, during the reporting week. FCA climbed by US$ 634 million to US$ 565.466 billion.
According to the data, gold reserves fell by US$ 147 million to US$ 42.32 billion. The International Monetary Fund's (IMF) special drawing rights (SDRs) fell by US$ 59 million to US$ 18.981 billion and the country's reserve position with the IMF fell by US$ 34 million to US$ 5.153 billion.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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