India's forex reserves rise by $ 1.013 billion to $ 610.012 billion

India's forex reserves rise by $ 1.013 billion to $ 610.012 billion

Mumbai, July 9, 2021

Going up for the second consecutive week, India's foreign exchange reserves rose by $ 1.013 billion to a new high of $ 610.012 billion during the week ended July 2, 2021, the Reserve Bank of India (RBI) said here today.

The country's forex reserves had soared by $ 5.066 billion to $ 608.999 billion during the previous week.

In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the foreign exchange reserves, had risen by $ 748 million to $ 566.988 billion during the week.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

According to the bulletin, the country’s gold reserves increased by $ 76 million to $ 36.372 billion, while its special drawing rights (SDRs) went up by $ 49 million to $ 1.548 billion.

The country's reserve position in the International Monetary Fund (IMF) jumped by $ 139 million to $ 5.105 billion, the bulletin added.

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