June 24, 2021

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Forex reserves up by $169 mn to $583.865 bn

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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.

MUMBAI: The country’s foreign exchange reserves increased by $169 million to $583.865 billion in the week ended February 19, RBI data showed.

In the previous week ended February 12, the reserves had declined by $249 million to $583.697 billion. It had touched a record high of $590.185 billion in the week ended January 29 this year.

During the reporting week, the increase in reserves was due to a rise in the foreign currency assets (FCAs), a major component of the overall reserves.

FCA rose by $1.155 billion to $542.106 billion, 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.

The gold reserves declined by $977 million to $35.25 billion in the week, the RBI data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) fell by $4 million to $1.508 billion in the reporting week.

The country’s reserve position with the IMF also declined by $4 million to $5.002 billion in the reporting week, the data showed.

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