India’s Foreign Exchange Reserves Rise By $3.68 Billion To Reach New High Of $461.15 Billion

India's foreign exchange (Forex) reserves on the week ending 3 January reached an all-time high of $461.157 billion, surging by $3.689 billion in just a week's time, reports Business Standard.

According to the RBI's weekly statistical supplement, the overall forex reserves increased to $461.15 billion from $457.46 billion reported for the week ended 27 December.

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).

The foreign currency assets of the nation include the increase or decrease in the value of different foreign currency warchests maintained by the Reserve Bank of India, including euro, pound and yen.

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $3.01 billion to $427.94 billion.

Similarly, the RBI's weekly data showed that the value of the country's gold reserves rose by $666 million to $28.05 billion.

The SDR value inched higher by $7 million to $1.44 billion, while the country's reserve position with the IMF increased by $3 million to $3.70 billion.

(With inputs from IANS)