Forex Reserves up by $758 Million to Lifetime High of $586.082 Billion

The country's foreign exchange reserves rose by USD 758 million to reach a record high of USD 586.082 billion in the week ended January 8, RBI data showed on Friday. In the previous week ended January 1, the reserves had increased by USD 4.483 billion to USD 585.324 billion.

In the reporting week, foreign currency assets (FCAs), a major component of the overall reserves, rose by USD 150 million to USD 541.791 billion. 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. The gold reserves climbed by USD 568 million to USD 37.594 billion, weekly data by the Reserve Bank of India (RBI) showed.

After remaining unchanged during the last week, the special drawing rights (SDRs) with the International Monetary Fund (IMF) increased by USD 5 million to USD 1.515 billion. The country's reserve position with the IMF rose by USD 35 million to USD 5.181 billion in the week, as per the data.

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