India’s forex reserves rise by $1.013 bn to record high of $610.012 bn

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