India's Foreign Exchange Reserves Rise By $169 Million To $583.865 Billion

India's foreign exchange reserves rose by just $169 million during the week ended 19 February.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $583.865 billion from $583.697 billion reported for the week ended 12 February.

India's forex 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 $1.155 billion to $542.106 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.

However, the value of the country's gold reserves declined by $977 million to $35.250 billion.

Besides, the SDR value stood lower by $4 million at $1.508 billion.

Nonetheless, the country's reserve position with the IMF decreased by $4 million to $5.002 billion.

(With inputs from IANS)