India's Foreign Exchange Reserves Rise By $2.198 Billion To $631.953 Billion

by Swarajya Staff - Feb 12, 2022 12:07 PM +05:30 IST
India's Foreign Exchange Reserves Rise By $2.198 Billion To $631.953 BillionReserve Bank of India (RBI). (Ramesh Pathania/Mint via Getty Images)

India's foreign exchange reserves rose by $2198 billion during the week ending on 4 February.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the forex reserves increased to $631.953 billion from $629.755 billion reported for the week ending on 28 January.

India's foreign exchange reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $2.251 billion to $568.329 billion.

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.

Meanwhile, the value of the country's gold reserves decreased by $210 million to $39.283 billion.

However, the SDR value increased by $98 million to $19.108 billion.

Similarly, the country's reserve position with the IMF increased by $59 million to $5.233 billion.

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