Mumbai: The country’s foreign exchange reserves increased by $ 1.91 billion to $ 642.01 billion in the week ending October 29. The Reserve Bank of India (RBI) released this information in its latest data on Friday. This increase was possible thanks to the substantial increase in the value of assets in foreign currency and gold. Because of this, foreign exchange reserves had been reduced by $ 908 million to $ 640.1 billion in the previous week.
The Reserve Bank said that India’s foreign currency assets (FCA) increased by $ 1.36 billion to $ 578.46 billion in the week under review. Assets in foreign currency, denominated in dollars, also include the effect of an increase or decrease in the value of other foreign currencies such as the euro, the pound and the yen. The value of gold reserves increased by $ 572 million to $ 39.01 billion in the week under review.
According to data from the Reserve Bank, the country’s special drawing rights (SDRs) with the International Monetary Fund increased by $ 17 million to $ 1930 billion. The country’s foreign exchange reserves with the IMF increased by $ 1 million to $ 5.24 billion.