You are here: Home » Economy & Policy » News
Business Standard

Forex reserves increase by $3.6 billion to record $545.63 billion

Gold reserves were up by USD 486 million in the reporting week to $36.486 billion, the RBI data showed.

Forex  | RBI

Press Trust of India 


The country's foreign exchange reserves rose by $3.618 billion to reach a life-time high of $545.638 billion in the week ended October 2, 2020, the data showed.

In the previous week ended September 25, the reserves had declined by $3.017 billion to $542.021 billion.

During the reporting week, the increase in kitty was on account of rise in foreign currency assets (FCA), a major component of the overall reserves. FCA increased by $ 3.104 billion to $ 503.046 billion in the week ended October 2, the data showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves were up by $ 486 million in the reporting week to $ 36.486 billion, the data showed.

The special drawing rights with the International Monetary Fund (IMF) rose by $ 4 million to $ 1.476 billion during the week.

The country's reserve position with the IMF was also up by $ 23 million to $ 4.631 billion during the reporting week, the data showed.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, October 09 2020. 22:39 IST