Sdr

India's forex reserves rise $1.98 bn to $688.13 bn, up for 8th week in row

India's forex reserves increased USD 1.983 billion to USD 688.129 billion during the week ended April 25, the RBI said on Friday. This is the eighth consecutive week of a rise in the kitty, which had jumped 8.31 billion to USD 686.145 in the previous reporting week. The forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024. For the week ended April 25, foreign currency assets, a major component of the reserves, increased USD 2.168 billion to USD 580.663 billion, the data released on Friday 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 decreased USD 207 million to USD 84.365 billion during the week, the Reserve Bank of India said. The Special Drawing Rights (SDRs) were up USD 21 million to USD 18.589 billion, the apex bank said. India's reserve position with the IMF was also up USD

India's foreign exchange reserves hit new high of $675 billion: RBI data

India's reserve position with the IMF rose by $8 million to $4.62 billion in the previous week

IMF okays members to channel reserve assets to MDBs for hybrid instruments

The IMF said the board's decision on May 10, should help broaden the use of SDRs, while increasing the attractiveness of the SDR as a reserve asset

IMF's executive board approves 50% quota increase to strengthen resources

The proposal follows the guidance from the International Monetary and Financial Committee (IMFC) at the 2023 annual meetings

IMF raises India's special drawing rights allocation to $17.86 billion

SDR is an alternate reserve currency floated by the IMF, which the member countries can freely exchange between themselves

India's holding of special drawing rights rises to $19.41 billion

The Reserve Bank said India's holding of IMF's Special Drawing Rights (SDR) has gone up to SDR 13.66 billion which is equivalent to $19.41 billion as per exchange rate

International Monetary Fund hikes SDR allocation to India

SDR is an alternate reserve currency floated by the IMF

Will distribute 'Special Drawing Rights' to member countries by Aug: IMF MD

IMF Managing Director Kristalina Georgieva said she is "confident" the financial organisation will distribute a new allocation of Special Drawing Rights (SDR) to member countries by mid-August

Why SDRs should be abolished

Special Drawing Rights - created as a reserve asset 50 years ago - should be scrapped and the US dollar should be recognised as the world's sole reserve currency

SDR made easier for banks, but provisions rise

The central bank also extended the SDR scheme benefit to ARCs which are members of any Joint Lenders Forum mechanism