India's forex reserves rise by $ 1.883 billion to new high of $ 611.895 billion
Mumbai, July 16, 2021
Maintaining an uptrend for the third consecutive week, India's foreign exchange reserves rose by $ 1.883 billion to a new high of $ 611.895 billion during the week ended July 9, 2021, the Reserve Bank of India (RBI) said here today.
The country's forex reserves had gone up by $ 1.013 billion to $ 610.012 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 increased by $ 1.297 billion to $ 568.285 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 $ 584 million to $ 36.956 billion, while its special drawing rights (SDRs) remained unchanged at $ 1.547 billion.
The country's reserve position in the International Monetary Fund (IMF) increased by $ 3 million to $ 5.107 billion, the bulletin added.