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India’s forex reserves rise by $ 1.053 billion to $ 393.132 billion

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Reversing a five-week downtrend, India’s foreign exchange reserves rose by $ 1.053 billion to $ 393.132 billion during the week ended November 2, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had dipped by $ 1.444 billion to $ 392.078 billion during the previous week.
 
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 487.7 million to $ 368.138 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves increased by $ 366.5 million to $ 20.888 billion while its special drawing rights (SDR) went up by $ 7.4 million to $ 1.465 billion.
 
India’s reserve position in the International Monetary Fund (IMF) rose by $ 192.2 million to $ 2.640 billion, the bulletin added.
 
NNN
 

(Our News Desk can be contacted at desk@netindian.in)

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