India's forex reserves rise by $ 758 million to new high of $ 586.082 billion

India's forex reserves rise by $ 758 million to new high of $ 586.082 billion

Mumbai, January 15, 2021

India's foreign exchange reserves rose by $ 758 million to a new high of $ 586.082 during the week ended January 8, the Reserve Bank of India (RBI) said here today.

The country's forex reserves had surged by $ 4.483 billion to $ 585.324 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 $ 150 million to $ 541.791 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 went up by $ 568 million to $ 37.594 billion, while its special drawing rights increased by $ 5 million to $ 1.515 billion.

The country's reserve position in the International Monetary Fund (IMF) went up by $ 35 million to $ 5.181 billion, the bulletin added.

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