The country’s foreign exchange reserves increased by $ 1.091 billion to $ 585.334 billion in the week ended 22 January. This information has been given in the data released on Friday by the Reserve Bank. Earlier, the foreign exchange reserves had fallen by $ 1.839 billion to $ 584.242 billion for the week ended January 15. Foreign currency reserves were at an all-time high of $ 586.082 billion for the week ended January 8.
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According to data released by the Reserve Bank of India on Friday, the increase in foreign exchange assets (FCA) in the reporting period led to an increase in the currency reserves. Foreign currency assets constitute a significant portion of the total foreign exchange reserves. According to the Reserve Bank’s weekly data, FCA increased by $ 68.5 million to $ 542.192 billion in the reporting period. The FCA is denominated in dollars, but includes other foreign currency assets such as the euro, pound and yen.
Gold reserves rise by $ 398 million
According to the data, the value of the country’s gold reserves rose by $ 398 million to $ 36.459 billion during the week ended January 22. The special drawing rights received by the country in the International Fund for Money (IMF) increased by $ 1 million to $ 1.513 billion, while the reserve reserves with the IMF also increased by $ 7 million to $ 5.171 billion.