In the reporting week ended April 9, 2021, the increase in forex reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves.
PTI
April 16, 2021 / 07:40 PM IST
After declining for two consecutive quarters, the country’s foreign exchange (forex) reserves surged by $ 4.34 billion to $ 581.21 billion in the week ended April 9, according to the latest RBI data.
In the previous week ended April 2, the reserves had dipped by $ 2.42 billion to $ 576.28 billion.
It had dropped by $ 2.99 billion to $ 579.28 billion in the week ended March 26, 2021.
The reserves had touched a lifetime high of $ 590.18 billion in the week ended January 29, 2021.
In the reporting week ended April 9, 2021, the increase in forex reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves.
FCA rose $ 3.02 billion to $ 539.45 billion, the Reserve Bank of India’s (RBI) weekly data showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like euro, pound and yen held in the forex reserves.
The gold reserves increased by $ 1.30 billion to $ 35.32 billion in the reporting week, the RBI data showed.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose $ 6 million to $ 1.49 billion in the reporting week.
The country’s reserve position with the IMF rose $ 24 million to $ 4.95 billion in the reporting week, the data showed.
