The country’s foreign exchange reserves reached a new record level of $ 568.494 billion, a strong increase of $ 7.779 billion in the week ended November 6. This was stated in the data released by the Reserve Bank of India on Friday. In the week ending October 30, the country’s foreign exchange reserves had increased by $ 183 million to $ 560.715 billion.
The main reason for the increase in foreign exchange reserves during the period of review is the increase in foreign exchange assets (FCA). These assets form a significant part of the total foreign exchange reserves. According to Reserve Bank data, FCA increased by $ 6.403 billion to $ 524.742 billion in the review period. The FCA is denominated in dollars, but includes other foreign currencies such as Euro, Pound and Yen.
Gold reserves rise by $ 1.328 billion
The country’s gold reserves rose by $ 1.328 billion to $ 37.587 billion during the week under review following a fall in the previous weekend. The special drawing rights received by the country in the International Fund for Money (IMF) increased by $ 7 million to $ 1.448 billion. At the same time, the country’s reserves with IMF increased by 40 million dollars to $ 4.676 billion during the period.