Forex reserves rise by $394 million to $631.92 billion - Times of India

Forex reserves rise by $394 million to $631.92 billion – Times of India

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MUMBAI: The country’s foreign exchange reserves increased by $394 million to $631.92 billion in the week ended March 4, the RBI data showed.
In the previous week ended February 25, the reserves had declined by $1.425 billion to $631.527 billion. It touched a lifetime high of $642.453 billion in the week ended September 3, 2021.
During the reporting week, the gain in the reserves was due to a rise in the foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India‘s (RBI) weekly data released on Friday showed.
FCA increased by $634 million to $565.466 billion in the week ended March 4.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves declined by $147 million to $42.32 billion in the reporting week, according to the data.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by $59 million to $18.981 billion, the RBI said.
The country’s reserve position with the IMF decreased by USD 34 million to USD 5.153 billion in the reporting week, the data showed.



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