The country’s foreign exchange reserves have increased to an all-time high of US $ 586.082 billion with an increase of US $ 758 million. The Reserve Bank of India (RBI) has released this data for the week ending January 8. In the week ending January 1, the reserves had increased by $ 4.483 billion to $ 585.324 billion.
The increase in foreign exchange reserves during the week under review was due to increase in foreign currency assets (FCA), which is a major part of total reserves. According to the RBI’s weekly data, FCA increased by $ 150 million to reach $ 541.791 billion.
Foreign currency assets are seen in dollar terms. This includes the impact of the rise and fall in non-US units held in the Foreign Exchange Reserve, such as the euro, pound and yen.
According to the central bank data, gold reserves increased by $ 568 million to $ 37.594 billion in the week under review. The Special Drawing Rights (SDRs) held by the International Monetary Fund (IMF) rose by $ 5 million to $ 1.515 billion this week after unchanged last week. According to the data, the country’s stock position with the IMF increased by $ 35 million to $ 5.181 billion during the week under review.
