Odisha News Insight

India’s Foreign Exchange Reserves up $236 Million

foreign exchange reserves India’s foreign exchange reserves gained by $236.4 million to $319.47 billion for the week ended Jan 9, Reserve Bank of India (RBI) data showed. In the previous week (Jan 2) the reserves had decreased by $471 million to $319.23 billion. According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, rose $308.5 million at $294.84 billion in the week under review.

The foreign currency assets declined by $863 million at $294.53 billion in the previous week (Jan 2). The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve. India’s reserve position with the International Monetary Fund (IMF) in the week ended Jan 9 fell by $15.4 million and stood at $1.12 billion.

The value of special drawing rights (SDRs) was lower by $56.7 million in the week under review at $4.12 billion. Gold reserves for the week under were static at $19.37 billion. The reserves had grown by $392 million at $19.37 billion in the previous week. (IANS)