India's forex reserves rise by over $1 bn

Mumbai, July 9
India's foreign exchange reserves rose by $1.013 billion during the week ended July 2.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $610.012 billion from $608.999 billion reported for the week ended June 25.

India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $748 million to $566.988 billion.

Similarly, the value of the country's gold reserves rose by $76 million to $36.372 billion.

On the same note, the SDR value increases by $49 million to $1.548 billion.

In addition, the country's reserve position with the IMF rose by $139 million to $5.105 billion.