New Delhi: The country’s foreign exchange reserves increased by $ 1.091 billion to $ 585.334 billion in the week ended 22 January. This information has been given in the data released on Friday by the Reserve Bank. Earlier, in the week ended 15 January, foreign exchange reserves had decreased by $ 1.839 billion to $ 584.242 billion. Foreign currency reserves stood at an all-time high of $ 586.082 billion for the week ended January 8.
According to data released by the Reserve Bank of India (RBI), the increase in foreign exchange assets (FCA) in the reporting period led to an increase in the currency reserves. Foreign currency assets constitute a significant part of the total foreign exchange reserves. According to the Reserve Bank’s weekly data, the FCA increased by $ 68.5 million to $ 542.192 billion in the reporting period. The FCA is denominated in dollars, but includes other foreign currency assets such as the euro, pound and yen.
According to the data, the value of the country’s gold reserves rose by $ 398 million to $ 36.459 billion during the week ended 22 January. The special drawing rights received by the country in the International Fund for Money (IMF) increased by $ 1 million to $ 1.513 billion, while the reserve reserves with the IMF also increased by $ 7 million to $ 5.171 billion.
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