The country’s foreign exchange reserves surged by USD 5.066 billion to touch a record high of USD 608.999 billion in the week ended June 25, 2021, RBI data showed. In the previous week ended June 18, the reserves had declined by USD 4.418 billion to USD 603.933 billion. During the week under review, the increase in the forex reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves, Reserve Bank of India’s (RBI) weekly data showed.
FCA rose by USD 4.7 billion to USD 566.24 billion. 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 rose by USD 365 million to USD 36.296 billion in the period under review, the data showed.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at USD 1.498 billion. The country’s reserve position with the IMF increased marginally by USD 1 million to USD 4.965 billion in the week, the data showed.