Indian Forex Reserves Rise By $2.48 Billion to Over $451 Billion

Foreign exchange reserves of the country rose by $2.48 billion during the week ended November 29, official data showed on Friday.

According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves increased to $451.08 billion from $448.59 billion reported for the week ended November 22.

India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $2.64 billion at $419.36 billion.

However, the RBI's weekly data showed that the value of the country's gold reserves went down by $148 million to $26.64 billion.

Similarly, the SDR value inched down by $4 million to $1.43 billion, while, the country's reserve position with the IMF declined by $6 million to $3.62 billion.