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India's Forex Reserves Rise To Nearly $400 Billion

foreign currency assets (FCAs), a major portion of the overall reserves, increased by $2.808 billion, to $373.641 billion for the week ended September 1.
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India's Forex Reserves Rise To Nearly $400 Billion

Mumbai: Continuing a recent trend, Indian foreign exchange reserves shot up by a massive $3.572 billion to touch a high of $398.122 billion for the week ended September 1, Reserve Bank of India (RBI) data showed on Friday.

The country's foreign currency assets (FCAs), a major portion of the overall reserves, increased by $2.808 billion, to $373.641 billion for the week in consideration.

According to the latest RBI data, while gold reserves also rose by $748.3 million to $20.691 billion, India's special drawing rights (SDRs) with the International Monetary Fund increased by $6.5 million to $1.506 billion.



The special drawing rights with the International Monetary Fund (IMF) increased by $6.5 million to $1.506 billion, the apex bank said.

In the previous week, the reserves had increased by $1.148 billion to $394.55 billion.

The inflow of foreign currency into the Indian equity and debt markets have contributed substantially to the impressive rise in reserves.



(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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