Advertisement
Wednesday, Dec 01, 2021
Outlook.com
Outlook.com

India's Foreign Exchange Reserves Rise By $1.49 Billion To Touch $641 Billion

Special drawing rights with International Monetary Fund (IMF) fell by $21 million to reach $19.25 billion in the reporting week. India's reserve position with the IMF rose $6 million to reach $5.23 billion.

India's Foreign Exchange Reserves Rise By $1.49 Billion To Touch $641 Billion
India's Foreign Exchange Reserves Rise By $1.49 Billion To Touch $641 Billion
outlookindia.com
2021-10-22T18:50:41+05:30

India's foreign exchange reserves increased $1.49 billion to reach about $641 billion in the week ending October 15, as per RBI data published on Friday. RBI said the rise can be attributed to an increase in foreign currency assets (FCAs) - which is a major component of overall reserves. 

Gold reserves spiked by $557 million to reach approx $38.58 billion in the same time period. 

In the previous week ended October 8, the reserves had increased by about $2.04 billion to $639.52 billion. The reserves had touched a lifetime high of $642.45 billion in the week ended September 3, 2021.

As per the data, foreign currency assets rose by $950 million to approx $577.95 billion. The foreign currency assets include the effect of appreciation or depreciation of non-U.S. currencies such as the euro, pound and yen held in foreign exchange reserves. 

Special drawing rights with International Monetary Fund (IMF) fell by $21 million to reach $19.25 billion in the reporting week. India's reserve position with the IMF rose $6 million to reach $5.23 billion. 

(With inputs from PTI)

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Five Powerful Indian-Americans Rocking Silicon Valley, Parag Agrawal Latest Addition

Five Powerful Indian-Americans Rocking Silicon Valley, Parag Agrawal Latest Addition

As Parag Agrawal becomes the CEO of Twitter, the Indian diaspora's representation in the tech giants of America, especially the companies in Silicon Valley gets a new badge.

Omicron Scare: All You Need To Know About India's New Travel Rules Effective From Today

Omicron Scare: All You Need To Know About India's New Travel Rules Effective From Today

Health Ministry has separated travellers coming from Omicron Variant 'Countries at-risk' from other international travelers. Check the list here, along with other guidelines.

'Don't Worry About Omicron,' Cricket South Africa Woos Team India With Safe Bio Bubble

'Don't Worry About Omicron,' Cricket South Africa Woos Team India With Safe Bio Bubble

Several sporting events in South Africa and elsewhere in the world are being cancelled due to travel restrictions in the wake of the new coronavirus variant, Omicron.

Omicron: Should Pregnant Women Be Worried About New Covid-19 Mutations?

Omicron: Should Pregnant Women Be Worried About New Covid-19 Mutations?

Amid the emergence of the Omicron variant, researchers in France say vaccination may be useful to protect women and their babies against Covid-19.

Advertisement