Forex reserves rise by USD 889 mn to lifetime high of USD 621.464 bn

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August 13, 2021 6:13 PM

In the previous week ended July 30, 2021, the reserves had surged by USD 9.427 billion to reach USD 620.576 billion.

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 country’s foreign exchange reserves increased by USD 889 million to a lifetime high of USD 621.464 billion in the week ended August 6, 2021, RBI data showed on Friday.

In the previous week ended July 30, 2021, the reserves had surged by USD 9.427 billion to reach USD 620.576 billion.

In the reporting week, the increase in the forex kitty was due to a rise in foreign currency assets (FCAs), a major component of the overall reserves, as per weekly data by the Reserve Bank of India (RBI).

FCAs rose by USD 1.508 billion to USD 577.732 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 down by USD 588 million to USD 37.057 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by USD 1 million to USD 1.551 billion.

The country’s reserve position with the IMF also fell by USD 31 million to USD 5.125 billion, as per the data.

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