The country’s foreign exchange reserves increased by USD 2.198 billion to USD 631.953 billion in the week ended February 4, RBI data showed.
In the previous week ended January 28, the reserves had declined by USD 4.531 billion to USD 629.755 billion. It touched a lifetime high of USD 642.453 billion in the week ended September 3, 2021.
During the reporting week, the surge in the foreign exchange reserves was on account of a rise in the Foreign Currency Assets (FCA), a major component of the overall reserves, and gold reserves, according to Reserve Bank of India’s (RBI) weekly data released on Friday.
FCA increased by USD 2.251 billion to USD 568.329 billion in the week ended February 4.
Expressed in dollar terms, FCA 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 declined by USD 210 million to USD 39.283 billion in the reporting week, the data showed.
The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) increased by USD 98 million to USD 19.108 billion.
The country’s reserve position with the IMF rose by USD 59 million to USD 5.233 billion in the reporting week, as per the data.
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