Forex reserves rise by $5 bn to lifetime high of $609 bn

The country's foreign exchange reserves surged by $5.066 billion to touch a record high of $608.999 billion in the week ended June 25, 2021, RBI data showed.

In the previous week ended June 18, the reserves had declined by $4.418 billion to $603.933 billion.

During the week under review, the increase in the forex reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves, Reserve Bank of India's (RBI) weekly data showed.

FCA rose by $4.7 billion to $566.24 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.

Gold reserves rose by $365 million to $36.296 billion in the period under review, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at $1.498 billion.

The country's reserve position with the IMF increased marginally by $1 million to $4.965 billion in the week, the data showed.

Photograph: Mohamed Abd El Ghany/Reuters