India’s IMF Reserve Position Improves by $8 Million, Touches $4.78 Billion

The country's foreign exchange reserves rose by $5.543 billion to $692.576 billion in the week ended November 14. In the previous reporting week, the total reserves had declined by $2.699 billion to $687.034 billion.

Foreign currency assets, the largest component of the reserves, rose by $152 million to $562.29 billion in the reporting week, the latest data showed. Foreign currency assets also include the effect of appreciation or depreciation of non-dollar currencies such as the euro, pound, and yen held in the foreign exchange reserves.

The RBI said the value of gold reserves increased by $5.327 billion to $106.857 billion during the week. The apex bank said special drawing rights (SDRs) increased by $56 million to $18.65 billion. India's reserve position with the International Monetary Fund (IMF) also increased by $8 million to $4.779 billion.