The country’s foreign exchange reserves rose by $2.039 billion to $639.516 billion in the week ended October 8, according to RBI data. In the previous week ended October 1, the reserves had dipped by $1.169 billion to $637.477 billion. The reserves had surged by $8.895 billion to a lifetime high of $642.453 billion in the week ended September 3.
During the reporting week ended October 8, the rise in the reserves was on account of an increase in the Foreign Currency Assets (FCAs), Reserve Bank of India’s (RBI) weekly data released on Friday showed.
FCA rose by $1.55 billion to $577.001 billion in the reporting week, as per the data.
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 were up by $464 million to $38.022 billion in the reporting week.
The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose by $28 million to $19.268 billion.
The country’s reserve position with the IMF declined by $3 million to $5.225 billion in the reporting week, the data showed.
Source: ET
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