The country’s foreign exchange reserves rose $4.85 billion to touch a record high of $590.18 billion in the week ended January 29, according to the latest data from the RBI.
In the previous week ended January 22, the reserves rose by $1.09 billion to $585.33 billion.
In the reporting week ended January 29, the reserves rose on account of an increase in foreign currency assets, a major component of the overall reserves.
FCA increased $5.03 billion to $547.22 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 the euro, pound and yen held in the foreign exchange reserves.
The gold reserves declined $164 million to $36.29 billion in the week ended January 29, the data showed.
The special drawing rights with the International Monetary Fund (IMF) were down by $4 million to $1.51 billion in the reporting week.
The country’s reserve position with the IMF also declined by $6 million to $5.16 billion in the week, the data showed.
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Go to the news source: Forex reserves jump $4.85 bn to record $590.18 bn
