India’s Foreign Exchange Reserves Rise

India’s foreign exchange reserves have recorded a rise of 458 million US Dollars to 353.527 billion dollars in the week ended 16th October.

According to RBI, foreign currency assets, a major part of the overall reserves, was marginally up by 452.5 million dollars to 329.970 billion dollars.

rbiIn the previous week, the reserves jumped by a healthy 2.263 billion dollars to 353.069 billion dollars.

The Gold reserves remained unchanged at 18.151 billion dollars in the reporting week.

India’s Special Drawing Rights with the International Monetary Fund rose by 4.2 million dollars to touch 4.081 billion dollars. India’s reserve position with the International Monetary Fund also grew by 1.3 million dollars to 1.323 billion dollars.

In India, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

TOP 10 COUTRIES (Foreign exchange reserves in Millions of US$)
China – 3,514,000
Japan – 1,248,936
Saudi Arabia – 672,106
Switzerland  – 600,180
Republic of China (Taiwan) – 426,398
Russia  – 377,300
South Korea  – 368,110
Brazil – 361,370
India – 353,527
Hong Kong  – 334,437
Singapore  – 250,410

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