India's forex reserves up by $1.444 billion to $589.465 billion

During the reporting week ended May 7, 2021, the increase in reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves.

May 14, 2021 / 08:53 PM IST
Representative Image

Representative Image

The country's foreign exchange reserves increased by $1.444 billion to $589.465 billion in the week ended May 7, 2021, RBI data showed.

In the previous week ended April 30, 2021, the reserves had risen by $3.913 billion to $588.02 billion. The reserves had touched a lifetime high of $590.185 billion in the week ended January 29, 2021.

During the reporting week ended May 7, 2021, the increase in reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves.

FCA rose by $434 million to $546.493 billion in the reporting week, 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.

Close

Gold reserves surged by $1.016 billion to $36.48 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) were down by $4 million to $1.503 billion.

The country's reserve position with the IMF declined by $1 million to $4.989 billion in the reporting week, the data showed.
PTI
first published: May 14, 2021 08:53 pm

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