Mumbai: The Foreign exchange reserves of the country rose to the highest in three weeks. The weekly statistical supplement data released by Reserve Bank of India (RBI) revealed this. As per the data, forex reserves rose by $2.315 billion to $573.875 billion in the week ending July 29. It was at $571.560 billion in the prior week.
The foreign exchange reserves of the country comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the country’s reserve position with the International Monetary Fund (IMF). FCA is the largest component of the forex reserves. It includes the effect of appreciation or depreciation of non-US currencies like the euro, pound, and yen held in the foreign exchange reserves.
FCAs rose by $1.121 billion to $511.257 billion. Gold reserves surge by $1.14 billion to $39.642 billion. The special drawing rights with the International Monetary Fund edged higher by $22 million to $17.985 billion. The country’s reserve position with the IMF gain by $31 million to $4.991 billion.