India’s Forex reserve is up by $488M

Indian Forex (Foreign exchange reserve) has met with a significant rise of $488M from last week. As per the data released by RBI, the Forex value of India has reached to $401.89 Billion this week, compared to last week’s value of $401.38. The aforementioned values include those of the Foreign Currency Assets (FCA), gold reserves, Special Drawing Rights (SDR) as well as those of RBI’s positionwith the IMF. Out of the total, FCA accounted for as much as $376.90 Billion.

However, as far as gold reserves, India hasn’t recorded a significant growth, while SDR made an increase of $3.8M.