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India’s forex reserves rise by $ 1.994 billion to $ 419.992 billion

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India’s foreign exchange reserves rose by $ 1.994 billion to $ 419.992 billion during the week ended May 24, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had dipped by $ 2.057 billion to $ 417.998 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 $ 1.991 billion to $ 392.188 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 remained unchanged at $ 23.021 billion, while its special drawing rights (SDRs) went up by $ 0.8 million to $ 1.4453 billion.
 
India’s reserve position in the International Monetary Fund (IMF) increased by $ 2.0 million to $ 3.3367 billion, the bulletin added.
 
NNN
 

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