India s Forex reserve rises by over $500 mn

Mumbai April 13 (IANS) India s foreign exchange (Forex) reserves increased by $503.6 million as on April 6 official data showed on Friday.

According to the Reserve Bank of India s (RBI) weekly statistical supplement the overall Forex reserves rose to $424.86 billion from $424.36 billion reported for the week ended March 30.

India s Forex reserves comprise of foreign currency assets (FCAs) gold reserves special drawing rights (SDRs) and the RBI s position with the International Monetary Fund (IMF).

Segment-wise FCAs -- the largest component of the Forex reserves -- increased by $657.7 million to $399.77 billion during the week under review.

Besides the US dollar FCAs consist of nearly 20-30 per cent of major global currencies. It also includes investments in US Treasury bonds bonds of other selected governments and deposits with foreign central and commercial banks.

However the country s gold reserves value declined by $130.7 million to $21.48 billion.

In addition the SDRs value inched lower by $10 million to $1.53 billion while the country s reserve position with the IMF came down by $13.4 million to $2.07 billion.

--IANS
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