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Forex Reserves Rise To $632.95 Billion

Country’s foreign exchanges reserves went up to $632.952 billion for the week ending February 18, owing to a rise in the value of gold reserves

Mumbai (Maharashtra): 

Country’s foreign exchanges (forex) reserves went up to $632.952 billion for the week ending February 18, owing to a rise in the value of gold reserves, according to Reserve Bank of India (RBI) data.

Gold reserves value rose by $1.274 billion to $41.509 billion during the week under review, according to RBI’s weekly statistical supplement.

In the previous week (i.e. the week ending February 11) forex reserves had fell by $1.763 billion to $630.19 billion.

For the week ending February 18, the country’s foreign currency assets, which is the biggest component of the forex reserves, rose by $1.496 billion to $567.06 billion.

In dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-dollar currencies like Euro, United Kingdom’s Pound Sterling and Japanese Yen held in foreign exchange reserves.

India’s reserve position in the International Monetary Fund (IMF) rose by $4 million to $5.221 billion.

India’s foreign exchange reserves have risen





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