India's foreign exchange reserves rose sharply to $639.51 billion

New Delhi: The country's foreign exchange reserves have increased by $ 2.039 billion to $ 639.516 billion in the week ended October 8. The Reserve Bank of India (RBI) has given information in this regard. In the previous week ending October 1, reserves had fallen by $1.169 billion. At that time it had come down to $ 637.477. In the week ended September 3, it had increased by $ 8.895 billion to reach a record high of $ 642.453 billion.

During the reporting week ended October 8, the increase in reserves was due to an increase in Foreign Currency Assets (FCAs). This has been learned in the weekly data released by the Reserve Bank of India (RBI) on Friday. According to the data, FCA increased by $1.55 billion to $577.001 billion in the reporting week. Explain that FCA is viewed in dollar terms and includes the effect of rising and fall in non-US units such as euro, pound and yen held in foreign exchange reserves.

Gold reserves saw an increase of $ 464 million in the reporting week and reached $ 38.022 billion. Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose by $28 million to $19.268 billion. According to the data, the country's reserve position with the IMF has declined by $3 million and has reached $5.225 billion.

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