India's foreign exchange reserves rise by over $4.5 bn

MUMBAI: India's foreign exchange reserves rose by $4.525 billion during the week ended December 4. According to the Reserve Bank of India's weekly statistical supplement, the reserves increased to $579.346 billion from $574.821 billion reported for the week ended November 27.

India's forex reserves comprise of 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 $3.932 billion to $537.386 billion.

Similarly, the value of the country's gold reserves increased. It edged up by $535 million to $35.728 billion. The SDR value stood higher by $12 million at $1.506 billion, whereas the country's reserve position with the IMF grew by $46 million to $4.725 billion. (IANS)

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