India's forex reserves rise by $5.54 billion to $692.57 billion

Indias foreign exchange reserves recorded a strong rise for the week ended 14 November, increasing by USD 5.543 billion to reach USD 692.576 billion, the Reserve Bank of India (RBI) said on Friday.

The surge in the countrys reserves this week was driven largely by a steep jump in the value of gold holdings. Gold reserves rose by USD 5.327 billion, taking the total to USD 106.857 billion.

Foreign currency assets (FCAs), the largest component of Indias reserves, saw a modest rise of USD 152 million, bringing the total to USD 562.29 billion.

Special Drawing Rights (SDRs) are up by USD 56 million to USD 18.65 billion. The reserve position in the IMF is higher by USD 8 million, reaching USD 4.779 billion.

 

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