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India's forex reserves up by over $1 bn
TIWN
India's forex reserves up by over $1 bn
PHOTO : TIWN

Mumbai, May 15 (TIWN) India's foreign exchange reserves rose by $1.444 billion during the week ended May 7.

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 $434 million to $546.493 billion.  Similarly, the value of the country's gold reserves gained by $1.016 billion to $36.480 billion.  However, the SDR value slipped by $4 million at $1.503 billion.  On the same note, the country's reserve position with the IMF inched lower by $1 million to $4.989

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