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Business News/ Economy / India's forex reserves rise by $1.013 bn to record high of $610.012 bn
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India's forex reserves rise by $1.013 bn to record high of $610.012 bn

In the previous week ended 25 June, the reserves had jumped by $5.066 billion to reach $608.999 billion

The rise in the forex kitty was mainly on account of an increase in foreign currency assets (FCA).Premium
The rise in the forex kitty was mainly on account of an increase in foreign currency assets (FCA).

The country's foreign exchange reserves rose to a lifetime high of $610.01 billion as of 2 July, compared with $609 billion a week earlier, the Reserve Bank of India (RBI) said on Friday.

In the previous week ended 25 June, 2021, the reserves had jumped by $5.066 billion to reach $608.999 billion.

During the reporting week, the rise in the forex kitty was mainly on account of an increase in foreign currency assets (FCA), a major component of the overall reserves.

FCA surged by $748 million to $566.988 billion, according to the weekly data by the central bank.

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.

Gold reserves climbed $76 million to $36.372 billion in the reporting week.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by $49 million to $1.548 billion.    

India's reserve position with the IMF too increased by $139 million to $5.105 billion in the reporting week, the RBI data showed.

With agency inputs

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Published: 09 Jul 2021, 06:12 PM IST
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