India's foreign exchange reserves up $1.15 bn to $585.90 bn
foreign exchange reserves surged by $1.153 billion to $585.895 billion for the week ending October 13, the latest data by the Reserve Bank of India (RBI) showed on Friday.
Previously, forex reserves decreased by $2.166 billion to $584.742 billion for the week ended October 6.
According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) dropped by $178 million to $519.35billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves surged by $1.27 billion to $43.58 billion, while SDRs were up by $72 million to $18 billion.
Reserve position in the IMF decreased by $8 million to $4.98 billion.
It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.
