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Sunday, July 25, 2021

Rise in currency assets fuels reserves to another record

In the week ended June 25, the reserves had risen $5.066 billion to $608.999 billion.

By: ENS Economic Bureau | New Delhi |
Updated: July 11, 2021 2:09:50 am
The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by $49 million to $1.548 billion.

The country’s foreign exchange reserves swelled by $1.013 billion to touch a new high of $610.012 billion in the week ended July 2, as per Reserve Bank of India (RBI) data.

In the week ended June 25, the reserves had risen $5.066 billion to $608.999 billion.

During the reporting week, the rise in the forex kitty was mainly on account of a gain in foreign currency assets (FCA). FCA rose $748 million to $566.988 billion, as per data by the Reserve Bank of India (RBI). Gold reserves climbed $76 million to $36.372 billion in the reporting week.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by $49 million to $1.548 billion.

The reserve position with the IMF too increased by $139 million to $5.105 billion in the reporting week, the RBI data released on Friday showed.

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