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India’s Forex reserves edge up by over $932 mn

India's Forex reserves edge up by over $932 mnMumbai, Dec 7 (IANS) India's foreign exchange (forex) reserves rose by $932.8 million during the week ended November 30, official data showed on Friday.

According to the Reserve Bank of India (RBI)'s weekly statistical supplement, the overall forex reserves increased to $393.71 billion from $392.78 billion reported for the week ended November 23.

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

FCAs, the largest component of the forex reserves, edged higher by $787.9 million to $368.48 billion during the week ended November 30.

 

Besides the US dollar, FCAs consist of 20-30 per cent of other major global currencies.

Similarly, the RBI's weekly data showed that the value of the country's gold reserves increased. It rose by $151.8 million to $21.15 billion.

However, the SDR value went down by $2.5 million to $1.45 billion, whereas the country's reserve position with the IMF decreased by $4.4 million to $2.62 billion.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

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India's Forex reserves edge up by over $932 mn

About Gopi Adusumilli

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc. He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources. When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any. He can be reached at gopi@socialnews.xyz

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