BREAKING NEWS

Advertisement

Business

Updated on: Friday, August 06, 2021, 11:30 PM IST

Forex reserves surge by $9.42 bn to all-time high of $620.57 bn

PTI
In the reporting week ended July 30, the rise in the reserves was on the back of an increase in foreign currency assets (FCAs), a major component of the overall reserves, the Reserve Bank of India's (RBI) weekly data released on Friday showed/ Representational image | PIxabay

In the reporting week ended July 30, the rise in the reserves was on the back of an increase in foreign currency assets (FCAs), a major component of the overall reserves, the Reserve Bank of India's (RBI) weekly data released on Friday showed/ Representational image | PIxabay

Advertisement

The country's foreign exchange reserves surged by $9.427 billion to record high of $620.576 billion in the week ended July 30, according to the latest RBI data.

In the previous week ended July 23, the reserves had declined by $1.581 billion to $611.149 billion.

In the reporting week ended July 30, the rise in the reserves was on the back of an increase in foreign currency assets (FCAs), a major component of the overall reserves, the Reserve Bank of India's (RBI) weekly data released on Friday showed.

FCA increased by $8.596 billion to $576.224 billion in the reporting week.

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 were up by $760 million to $37.644 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by $6 million at $1.552 billion.

The country's reserve position with the IMF also increased $65 million to $5.156 billion in the reporting week, the data showed.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Friday, August 06, 2021, 11:30 PM IST
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement