The country’s foreign exchange reserves grew by USD 2.229 billion to USD 634.965 billion in the week ended January 14, RBI data showed.
In the previous week ended January 7, the reserves had declined by USD 878 million to USD 632.736 billion. It touched a lifetime high of USD 642.453 billion in the week ended September 3, 2021.
During the reporting week ended January 14, the jump in the foreign exchange reserves was on account of a rise in the foreign currency assets (FCAs), a major component of the overall reserves, and the gold reserves, Reserve Bank of India’s (RBI) weekly data released on Friday showed.
FCA increased by USD 1.345 billion to USD 570.737 billion in the reporting week, the 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.
Gold reserves rose by USD 726 million to USD 39.77 billion in the reporting week, the data showed.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) increased by USD 123 million to USD 19.22 billion, the RBI said.
The country’s reserve position with the IMF also rose by USD 36 million to USD 5.238 billion in the reporting week, the data showed.