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Thursday, December 09 2021

Economy

Portfolio inflows boost India’s forex reserves by over $8 bn

Portfolio inflows boost Indias forex reserves by over 8 bn

Mumbai: Healthy portfolio inflows, as well as general FDI capital, further boosted India’s foreign exchange reserves by $8.895 billion during the week ended September 3.

The portfolio inflows in equity capital were attracted to India on the prospects of faster economic recovery.

The Reserve Bank of India’s (RBI) forex reserves increased to $642.453 billion.

Forex reserves $633.558 billion reported for the week ended August 27.

As per the RBI’s weekly statistical supplement, India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF.

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $8.213 billion to $579.813 billion.

Similarly, the value of the country’s gold reserves rose by $642 million to $38.083 billion.

The SDR value rose by a whopping $29 million to $19.437 billion.

In addition, the country’s reserve position with the IMF rose by $11 million to $5.121 billion.

 

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