Forex reserves rose 16 16.66 billion to a new high of 3 633 billion

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MUMBAI: The country's forex reserves rose by લર 16.5 billion in a single week to a new record high of ૫૫ 2.3 billion over the weekend. The rise was attributed to an increase in special drawing rights (SDRs), the RBI said.

The International Monetary Fund (IMF) had disbursed 12.5 billion SDRs to India on August 8, 2021, the RBI said on Wednesday. The SDR is valued at ૨ 16.5 billion at current exchange rates.

SDRs are part of a country's forex reserves. The IMF allocates general SDRs to its member countries as a percentage of their current quota in the IMF.

For the week ended August 3, the country's SDR holdings rose by ૭ 12.5 billion to ૯ 16.60 billion, according to Reserve Bank of India data. The country's gold reserves rose by ૯ 175 million to ૪૪ 2.7 billion, according to RBI data.


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