Overseas trade reserves improve by $ 169 million to $ 583.865 billion, in response to RBI knowledge

The nation’s overseas trade reserves rose $ 169 million to $ 583.865 billion within the week ended Feb. 19, in response to RBI knowledge.

Through the earlier week ended Feb. 12, reserves had declined by $ 249 million to $ 583.697 billion. It had reached a document excessive of 590.185 billion USD within the week ended January 29 of this yr.

Through the week beneath overview, the rise in reserves was as a result of a rise in overseas forex holdings (FCA), a significant part of all reserves.

The FCA rose $ 1.155 billion to $ 542.106 billion, in response to weekly knowledge from the Reserve Financial institution of India (RBI).

Expressed in {dollars}, overseas forex property embrace the impact of the appreciation or depreciation of non-US models such because the euro, pound and yen held in overseas trade reserves.

Gold reserves declined from $ 977 million to $ 35.25 billion this week, in response to RBI knowledge.

Particular Drawing Rights (SDRs) with the Worldwide Financial Fund (IMF) fell by $ 4 million to $ 1.508 billion within the reference week.

The nation’s reserve place with the IMF additionally declined from $ 4 million to $ 5.002 billion within the base week, the information confirmed.

(Solely the title and picture of this report could have been reworked by Enterprise Commonplace employees; the remainder of the content material is mechanically generated from a syndicated feed.)

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Overseas trade reserves down $ 249 million to $ 583.697 billion

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