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India's forex reserves rise by $1.88 billion to record high of $611.89 billion

In the reporting week ended July 9, the increase in forex reserves was on account of the rise in foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India's (RBI) weekly data showed.

July 16, 2021 / 21:32 IST
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The country's foreign exchange reserves increased by $1.883 billion to touch a record high of $611.895 billion in the week ended July 9, RBI data showed on Friday.

In the previous week ended July 2, the reserves had surged by $1.013 billion to $610.012 billion.

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In the reporting week ended July 9, the increase in forex reserves was on account of the rise in foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India's (RBI) weekly data showed.

FCA rose by $1.297 billion to $568.285 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.