Forex reserves rise by $2.22 bn to $634.96 bn: RBI report

AgenciesUpdated: Saturday, January 22, 2022, 03:40 PM IST
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The forex reserves consist of foreign currency assets, gold, SDRs, and reserve position in the International Monetary Fund (IMF)./ Representative image | Photo credit: ANI

India's foreign exchange (forex) reserves rose by $2.229 billion to $634.965 billion for the week ended January 14, 2022, the Reserve Bank of India (RBI) data showed. The forex reserves had declined by $878 million in the previous week.

According to the RBI's Weekly Statistical Supplement, all categories of the forex reserves increased during the week ended January 14, 2022.

The forex reserves consist of foreign currency assets, gold, SDRs and reserve position in the International Monetary Fund (IMF).

The foreign currency assets rose by $1.345 billion to $570.737 billion. Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-dollar currencies like Euro, UK's Pound sterling, Japanese Yen held in the foreign exchange reserves.

The foreign currency assets had declined by $497 million to $569.392 billion during the week ended January 7.

Value of India's gold reserves rose by $726 million to $39.770 billion for the week under review. India's Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose by $123 million to $19.220 billion.

India's reserve position with the IMF rose by $36 million to $5.238 billion during week ended January 14, 2022.

(With inputs from ANI)

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