Reserve Bank of India (RBI) data showed on Friday that foreign exchange (forex) reserves increased by $5.23 billion during the week ended March 29, official data showed on Friday.

Overall forex reserves rose to $411.90 billion from $406.66 billion reported for the week ended March 22.

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $5.24 billion to $384.05 billion.

Besides the US dollar, FCAs consist of 20-30 per cent of the other major global currencies.

The RBI's weekly data showed that the value of the country's gold reserves was stagnant at $23.40 billion.

However, the SDR value inched lower by $3.6 million to $1.45 billion, while the country's reserve position with the IMF slipped by $7.4 million to $2.98 billion.

Forex reserves comprise Foreign Currency Assets (FCAs), gold reserves, Special Drawing Rights (SDRs) and India's reserve position with the International Monetary Fund (IMF).

Published On : 05-04-2019

Source : Sme Times