Mayur.Shetty@timesgroup.com
Mumbai: The nation’s Forex reserves rose $15.6 billion to a record $633.5 billion for the week ended August 27 because of a rise within the special drawing rights (SDRs), a line of credit score that the International Monetary Fund (IMF) offers member international locations.
On Wednesday, the RBI had mentioned India has obtained an allocation of SDR 12.6 billion, which is equal to round $17.9 billion. The improve in SDR greater than made up for the $1.4-billion drop in overseas foreign money reserves to $571.6 billion. However, gold reserves have been up by $192 million to $37.4 billion.
Mumbai: The nation’s Forex reserves rose $15.6 billion to a record $633.5 billion for the week ended August 27 because of a rise within the special drawing rights (SDRs), a line of credit score that the International Monetary Fund (IMF) offers member international locations.
On Wednesday, the RBI had mentioned India has obtained an allocation of SDR 12.6 billion, which is equal to round $17.9 billion. The improve in SDR greater than made up for the $1.4-billion drop in overseas foreign money reserves to $571.6 billion. However, gold reserves have been up by $192 million to $37.4 billion.