Forex reserves rise by $5 billion to lifetime high of $609 billion – Times of India

Forex reserves rise by $5 billion to lifetime high of $609 billion - Times of India


MUMBAI: The country’s foreign exchange reserves surged by $5.066 billion to touch a record high of $608.999 billion in the week ended June 25, 2021, RBI data showed.
In the previous week ended June 18, the reserves had declined by $4.418 billion to $603.933 billion.
During the week under review, the increase in the forex reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves, Reserve Bank of India‘s (RBI) weekly data showed.
FCA rose by $4.7 billion to $566.24 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.
Gold reserves rose by $365 million to $36.296 billion in the period under review, the data showed.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at $1.498 billion.
The country’s reserve position with the IMF increased marginally by $1 million to $4.965 billion in the week, the data showed.





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