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India’s forex reserves rise by $4.23 bn

India's forex reserves rise by $4.23 bn

Mumbai, Oct 11 (SocialNews.XYZ) India's foreign exchange reserves rose by $4.23 billion during the week ended October 4, official data showed on Friday.

According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves increased to $437.83 billion from $433.59 billion reported for the week ended September 27.

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

 

On a weekly basis, FCAs -- the largest component of the forex reserves -- edged higher by $3.99 billion at $405.61 billion.

The RBI's weekly data also showed that the value of the country's gold reserves went up by $232 million to $27.17 billion.

The country's reserve position with the IMF rose by $9 million to $3.61 billion.

Similarly, the SDR value went up by $1 million to $1.42 billion.

Source: IANS

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India's forex reserves rise by $4.23 bn

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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