In the reporting week ended July 9, the increase in forex reserves was on account of the rise in foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India’s (RBI) weekly data showed.
PTI
July 16, 2021 / 09:32 PM IST
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The country’s foreign exchange reserves increased by $ 1.883 billion to touch a record high of $ 611.895 billion in the week ended July 9, RBI data showed on Friday.
In the previous week ended July 2, the reserves had surged by $ 1.013 billion to $ 610.012 billion.
In the reporting week ended July 9, the increase in forex reserves was on account of the rise in foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India’s (RBI) weekly data showed.
FCA rose by $ 1.297 billion to $ 568.285 billion in the reporting week.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves were up by $ 584 million to $ 36.956 billion in the reporting week, according to the data.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at $ 1.547 billion.
The country’s reserve position with the IMF increased by $ 3 million to $ 5.107 billion in the reporting week, the data showed.
