Forex reserves up by $1.091 bn to $585.334 bn

Mumbai: The country’s foreign exchange reserves rose by USD 1.091 billion to USD 585.334 billion in the week ended January 22, RBI data showed.

In the previous week ended January 15, the reserves had declined by USD 1.839 billion to USD 584.242 billion.

It had touched a life-time high of USD 586.082 billion in the week ended January 8.

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In the reporting week ended January 22, the reserves rose on account of an increase in foreign current assets, a major component of the overall reserves.

FCA increased by USD 685 million to USD 542.192 billion, the Reserve Bank of India’s (RBI) weekly 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.

The gold reserves rose by USD 398 million to USD 36.459 billion in the week ended January 22, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by USD 1 million to USD 1.513 billion in the reporting week.

The country’s reserve position with the IMF also increased by USD 7 million to USD 5.171 billion in the week, the data showed.

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