India's Foreign Exchange Reserves Rise By $1.492 Billion To $641.008 Billion

India's foreign exchange reserves rose by $1.492 billion during the week ending on 15 October.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $641.008 billion from $639.516 billion reported for the week ended 8 October.

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

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $950 million to $577.951 billion.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.

Similarly, the value of the country's gold reserves gained by $557 million to $38.579 billion.

However, the SDR value decreased by $21 million to $19.247 billion.

Meanwhile, the country's reserve position with the IMF inched higher by $6 million to $5.231 billion.