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India's forex reserves up $183 mn to record high of $560.715 bn

The country's foreign exchange reserves rose $183 million to touch a record high of $560.715 billion in the week ended October 30, RBI data showed on Friday.

India's Forex reserves | foreign exchange

Press Trust of India  |  Mumbai 

Forex reserves falling below $400 billion not a worry, say experts

The country's reserves rose USD 183 million to touch a record high of USD 560.715 billion in the week ended October 30, RBI data showed on Friday.

In the previous week ended October 23, the reserves had jumped USD 5.412 billion to USD 560.532 billion.

In the reporting week, the reserves rose due to an increase in foreign currency assets (FCA), a major component of the overall reserves.

FCA rose by USD 815 million to USD 518.339 billion, the RBI's weekly 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 reserves.

Gold reserves declined USD 601 million in the reporting week to USD 36.259 billion, the RBI data showed.

The special drawing rights with the International Monetary Fund (IMF)decreased USD 6 million to USD 1.482 billion during the week.

The country's reserve position with the IMF also declined by USD 25 million to USD 4.636 billion during the reporting week, the data showed.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, November 06 2020. 19:34 IST