India's Foreign Exchange Reserves Rise By $6.842 Billion To Reach Record High Of $605.008 Billion

Swarajya Staff

Jun 12, 2021, 09:29 AM | Updated 09:29 AM IST

The RBI headquarters in Mumbai. (GettyImages)
The RBI headquarters in Mumbai. (GettyImages)

India's foreign exchange reserves rose by $6.842 billion during the week ended 4 June to touch the lifetime high of over $600 billion.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $605.008 billion from $598.165 billion reported for the week ended 28 May.

India's forex reserves comprise 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 $7.362 billion to $560.890 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 dropped by $502 million to $37.604 billion.

Similarly, the SDR value fell by $1 million at $1.513 billion.

Besides, the country's reserve position with the IMF inched lower by $16 million to $5 billion.

(With inputs from IANS)

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