New Delhi: The country’s foreign exchange reserves have increased to an all-time high of $ 585.324 billion with an increase of US $ 4.483 billion. The Reserve Bank of India (RBI) has released this data for the week ending January 1. In the week ending December 25, the reserves had fallen by $ 290 million to $ 580.841 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 $ 4.168 billion to reach $ 541.642 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 central bank data, gold reserves rose by $ 315 million to $ 37.026 billion in the week under review. There was no change in the special drawing rights held by the International Monetary Fund and stood at $ 1.510 billion. According to the data, the country’s stock position with the IMF during the week under review was also at $ 5.145 billion, similar to the previous week.
