The International Monetary Fund (IMF) has made an allocation of particular drawing rights (SDR) 12.57 billion (equal to round $17.86 billion on the newest trade charge) to India.
The complete SDR holdings of India now stand at SDR 13.66 billion (equal to round $19.41 billion on the newest trade charge). This improve in SDR holdings will probably be mirrored within the overseas trade reserves (FER) information that will probably be printed for the week ended August 27, 2021, the RBI mentioned.
SDR within the RBI’s foreign exchange reserves was $1.54 billion as on August 20, 2021. With the newest SDR allocation, the foreign exchange reserves are anticipated to cross $630 billion. SDR holdings is likely one of the parts of the FER of a rustic. IMF makes the final SDR allocation to its members in proportion to their current quotas within the IMF. The IMF board of governors had permitted a common allocation of about SDR 456 billion on August 2, (efficient from August 23) of which India’s share is SDR 12.57 billion.
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