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India’s Foreign Exchange Reserves’ Rises by Over $7 Billion

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India’s foreign exchange reserves rose $7.779 billion during the week ended November 6.

According to the Reserve Bank of India’s weekly statistical supplement, reserves increased to $568.494 billion from $560.715 billion reported for the week ended October 30.

India’s forex reserves comprise of 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 $6.403 billion to $524.742 billion.

Similary, the value of the country’s gold reserves increased, by $1.328 billion to $37.587 billion.

The SDR value rose by 7 million to $1.488 billion, while the country’s reserve position with the IMF increased by $40 million to $4.676 billion.

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