India's foreign exchange reserves rose by $2.563 billion to reach a record high of over $581 billion
Bengaluru: During the week that ended 18 December, India's foreign exchange reserves rose by $2.563 billion to reach a record high of over $581 billion.
According to the Reserve Bank of India's weekly statistical supplement, the reserves increased to $581.131 billion from $578.568 billion reported for the week ended 11 December, a popular website noted.
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 $1.382 billion to $537.727 billion.
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.
Similarly, the value of the country's gold reserves increased by $1.008 billion to $37.020 billion.
Besides, the SDR value stood higher by $12 million at $1.515 billion.
In addition, the country's reserve position with the IMF increased by $160 million to $4.870 billion.
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Last Updated Dec 26, 2020, 10:56 AM IST