The country’s foreign exchange reserves grew by $2.23 billion to $634.96 billion in the week ended January 14, RBI data showed.
In the previous week ended January 7, the reserves had declined by $878 million to $632.74 billion.
It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
During the reporting week ended January 14, the jump in the foreign exchange reserves was on account of a rise in the foreign currency assets (FCAs), a major component of the overall reserves, and the gold reserves, Reserve Bank of India’s (RBI) weekly data released on Friday showed.
FCA increased by $1.34 billion to $570.74 billion in the reporting week, the 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.
Gold reserves rose by $726 million to $39.77 billion in the reporting week, the data showed.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) increased by $123 million to $19.22 billion, the RBI said.
The country’s reserve position with the IMF also rose by $36 million to $5.24 billion in the reporting week, the data showed.
Photograph: Reuters
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