- By Aditya Pratap Singh
- Fri, 02 Feb 2024 05:54 PM (IST)
- Source:PTI
India's Forex Reserve: The Reserve Bank of India (RBI) said on Friday that India's foreign exchange reserves rose by $591 million to $616.733 billion for the week ended January 26.
In the last reporting week, total reserves decreased by $2.795 billion to $616.143 billion. The country's foreign exchange hit an all-time high of USD 645 billion in October 2021. The central bank has deployed the kitty since last year to protect the rupee amid pressures mainly due to global growth.
According to the data, foreign exchange assets, a major component of reserves, rose by $289 million to $546.144 billion in the week ended January 26.
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Expressed in dollar terms, foreign currency assets include the appreciation or depreciation effect of non-US units such as the euro, pound and yen held in foreign currency reserves.
Meanwhile, Gold reserves increased by $269 million to $47.481 billion during the week, the Reserve Bank said. Special Drawing Rights (SDRs) rose by $27 million to $18.248 billion, the apex bank said.
India's reserve position with the IMF increased by $6 million to $4.86 billion during the reporting week, according to Reserve Bank data.
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