Forex reserve up by $1.727 bn to USD 573.727 bn
1 min read . Updated: 27 Jan 2023, 06:11 PM IST
PremiumForeign currency assets increased by $839 million to $506.358 billion
India's foreign exchange reserves increased by $1.727 billion to $573.727 billion in the week ended January 20, the Reserve Bank of India said on Friday.
This is the second consecutive week where the forex reserve reported a rise in after the $10.417 billion jump to $572 billion during the preceding week.
In October 2021, the country's forex kitty had reached an all-time high of $645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
In October 2022, the reserves had risen to $14.721 billion during a week.
In the week ended January 20, the foreign currency assets increased by $839 million to $506.358 billion, according to the data released by RBI on Friday.
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 have jumped by $821 million to $43.712 billion, the RBI said. It has shown a continued rising trend.
The Special Drawing Rights (SDRs) were up by $68 million to $18.432 billion, according to the data released by RBI.
The country's reserve position with the IMF was down by $1 million to USD 5.226 billion in the reporting week, the apex bank data showed.
