India’s Foreign Exchange reserves have climbed by $4.368 billion to $ 418.515 billion in the week to April 26.
According to Reserve Bank Of India (RBI)’s data, India’s foreign exchange reserves climbed by $4.368 billion to $ 418.515 billion in the week to April 26.
The data of the RBI released on 3rd of May showed that Foreign Currency assets rose by $ 4.387 billion to $ 390.421 billion.
The data also showed that the reserves of Gold remained unchanged at $ 23.303 billion.
India is one of the world’s largest gold consuming nations. The foreign exchange assets also include Investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial banks.
As of March 2019, India is at 8th position in List of countries by foreign-exchange reserves, just below Republic of China (Taiwan) and Hong Kong.
The Foreign exchange reserves of India consists of 4 categories; Foreign Currency Assets, Gold, Special Drawing Rights (SDRs) and Reserve Tranche Position.