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India's forex reserves up by $1.091 billion to $585.334 billion

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

January 29, 2021 / 09:18 PM IST

The country's foreign exchange reserves rose by $1.091 billion to $585.334 billion in the week ended January 22, RBI data showed. In the previous week ended January 15, the reserves had declined by $1.839 billion to $584.242 billion.

It had touched a life-time high of $586.082 billion in the week ended January 8. 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 $685 million to $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 $398 million to $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 $1 million to $1.513 billion in the reporting week.

The country's reserve position with the IMF also increased by $7 million to $5.171 billion in the week, the data showed.
PTI
first published: Jan 29, 2021 09:18 pm

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