India’s foreign exchange reserves rose by USD 1.033 billion to USD 687.26 billion in the week ended December 5, the Reserve Bank of India (RBI) said on Friday. This comes after the previous reporting week saw a decline of USD 1.877 billion, PTI reported. According to the RBI’s weekly statistical data, foreign currency assets — the largest component of the reserves — fell by USD 151 million to USD 556.88 billion. Expressed in dollar terms, these assets reflect the impact of movements in non-US currencies such as the euro, pound and yen. Gold reserves increased by USD 1.188 billion to USD 106.984 billion during the week, the data showed. The Special Drawing Rights (SDRs) rose by USD 93 million to USD 18.721 billion, while India’s reserve position with the IMF declined by USD 97 million to USD 4.675 billion.
Forex monitor: India’s reserves rise by $1 bn; gold holdings jump sharply as overall kitty hits $687.26 bn
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