India Forex

The Reserve Bank of India’s weekly statistical supplement shows that India’s Forex reserves rose to $421.91 billion. (Kuntal Chakrabarty/IANS photo)

MUMBAI — India's foreign exchange reserves rose by $4.12 billion as of Feb. 2, official data showed Feb. 9.

The Reserve Bank of India's weekly statistical supplement showed that the overall Forex reserves rose to $421.91 billion from $417.78 billion reported for the week ending Jan. 26.

India's Forex reserves are comprised of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI's position with the International Monetary Fund. 

Segment-wise, FCAs – the largest component of the Forex reserves – increased by $3.02 billion to $396.76 billion during the week under review. 

Besides the U.S. dollar, FCAs consist of nearly 20-30 percent of major global currencies. It also includes investments in U.S. treasury bonds, bonds of other selected governments and deposits with foreign central and commercial banks.

Similarly, the country's gold reserves value rose by $1.09 billion to $21.51 billion.

The SDRs value inched up by $3.2 million to $1.54 billion, while the country's reserve position with the IMF rose by $4.3 million to $2.08 billion.

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