India’s foreign exchange reserves surge by $9.112 billion to reach $615.971 billion in the week concluding on December 15. The pivotal foreign currency assets, a substantial element within the reserves, witness a remarkable uptick of $8.349 billion, soaring to $545.048 billion, as disclosed by the Reserve Bank of India (RBI) data presented on Friday.
During the preceding reporting week, the comprehensive reserves experienced a notable increment of $2.816 billion, culminating at $606.859 billion. In October 2021, the nation’s forex reserves achieved an unprecedented pinnacle of $645 billion. Nevertheless, the reserves encountered depletion as the central bank deployed its reserves to shield the rupee from pressures primarily induced by global developments since the previous year.
For the week concluding on December 15, foreign currency assets, a significant constituent of the reserves, expanded by $8.349 billion, reaching $545.048 billion, as per the Reserve Bank of India (RBI) data unveiled on Friday. When articulated in dollar terms, foreign currency assets encompass the impact of appreciation or depreciation of non-US units such as the euro, pound, and yen held in the foreign exchange reserves.
Gold reserves observe a surge of $446 million, escalating to $47.577 billion during the week, according to the RBI’s statement. The Special Drawing Rights (SDRs) witness an elevation of $135 million, reaching $18.323 billion, as stated by the apex bank. Furthermore, India’s reserve position with the International Monetary Fund (IMF) undergoes an augmentation of $181 million, achieving $5.023 billion in the reporting week, as per data from the apex bank.
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