India's Forex Reserves Surge by $1.25 Billion: RBI Data

India's Forex Reserves Surge by $1.25 Billion: RBI Data

Mumbai: India's foreign exchange (Forex) reserves rose by $1.25 billion as on April 21, 2017, official data showed on Friday. According to the Reserve Bank of India's weekly statistical supplement(सांख्यिकीय पूरक), the overall Forex reserves increased to $371.13 billion from $369.88 billion reported for the week ended April 14. India's Forex reserves comprise(इसमें शामिल हैं) of foreign currency assets (FCAs), gold, special drawing rights (SDRs) and the RBI's position with the International Monetary Fund (IMF).

Segment-wise, FCAs -- the largest component of the Forex reserves -- augmented by $1.23 billion to $347.48 billion during the week under review.

Besides the US dollar, FCAs consist of nearly 20-30 percent of major (non-US) global currencies. The FCAs also include investments in US Treasury bonds, bonds of other selected governments, deposits with foreign central and commercial banks.

The country's gold reserves were stagnant (गतिहीन) at $19.86 billion.

However, SDRs' value gained $5 million to $1.45 billion. The country's reserve position with the IMF inched higher by $7.7 million to $2.33 billion.

SDR created by the IMF in 1969

The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. As of March 2016, 204.

1 billion SDRs =(equivalent to) about $285 billion) had been created and allocated to members.

 SDRs can be exchanged for freely usable currencies. The value of the SDR is based on a basket of five major currencies—the US dollar, the euro, the Chinese renminbi (RMB), the Japanese yen, and the British pound sterling.

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India quata of IMF 

SDR PERCENT IN TOTAL  2.76

voting rights                        2.64 

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 India's Forex reserves comprise

 India's Forex reserves comprise(इसमें शामिल हैं) of foreign currency assets (FCAs), gold, special drawing rights (SDRs) and the RBI's position with the International Monetary Fund (IMF).

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Definitions of stagnant गतिहीन

adjective

(of a body of water or the atmosphere of a confined space) having no current or flow and often having an unpleasant smell as a consequence.

a stagnant ditch

synonyms: still, motionless, static, stationary, standing, dead, slack, foul, stale, putrid, smelly