India's forex reserves rise by $ 3.074 billion to a new high of $ 608.081 billion

India's forex reserves rise by $ 3.074 billion to a new high of $ 608.081 billion

Mumbai, June 18, 2021

Maintaining an uptrend for the ninth consecutive week, India's foreign exchange reserves rose by $ 3.074 billion to a new high of $ 608.081 billion during the week ended June 11, 2021, the Reserve Bank of India (RBI) said here today.

The country's forex reserves had surged by $ 6.842 billion to $ 605.008 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 climbed by $ 2.567 billion to $ 563.457 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 $ 496 million to $ 38.101 billion, while its special drawing rights (SDRs) were lower by $ 1 million at $ 1.512 billion.

The country's reserve position in the International Monetary Fund (IMF) went up by $ 11 million to $ 5.011 billion, the bulletin added.

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