Home / Economy / News / Forex reserves surge to $537.548 bn, gold reserves down at $37.26 bn

Forex reserves surge to $537.548 bn, gold reserves down at $37.26 bn

The country's reserve position with the IMF also increased by $6 million to $4.634 billion during the reporting week

Premium

The special drawing rights with the International Monetary Fund (IMF) rose $2 million to $1.481 billion.

2 min read Last Updated : Aug 29 2020 | 1:05 AM IST

The country's foreign exchange reserves rose by $2.296 billion to reach $537.548 billion in the week to August 21, RBI data showed on Friday.

In the previous week ended August 14, the reserves had declined by $2.939 billion to $535.252 billion.

The forex kitty had increased by $3.623 billion to reach a record high of $538.191 billion in the week ended August 7.

In the reporting week, the increase in reserves was mainly due to a jump in foreign currency assets (FCAs), a major component of the overall reserves.

ALSO READ: RBI's core income growth takes a hit

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in