India’s foreign exchange reserves increase by $ 1.88 billion to a record high of $ 611.89 billion

The country’s foreign exchange reserves rose $ 1.883 billion to a record high of $ 611.895 billion in the week ending July 9, according to RBI data on Friday.

During the previous week ended July 2, reserves had jumped from $ 1.013 billion to $ 610.012 billion.

During the reporting week ended July 9, the increase in foreign exchange reserves was due to the increase in foreign exchange assets (FCA), a major component of aggregate reserves, according to weekly data from the Reserve Bank of India (RBI).

The FCA rose $ 1.297 billion to $ 568.285 billion in the week under review.

Expressed in dollars, foreign currency assets include the effect of the appreciation or depreciation of non-US units such as the euro, the pound and the yen held in foreign exchange reserves.

Gold reserves rose $ 584 million to $ 36.956 billion in the week of the report, the data showed.

Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at $ 1.547 billion.

The country’s reserve position with the IMF increased by $ 3 million to $ 5.107 billion during the week of the report, the data showed.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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