For the week that ended on January 31, foreign currency assets, a major component of the reserves, decreased by USD 207 million to USD 537.684 billion, data released on Friday revealed
Representational Pic/File
India's forex reserves rose USD 1.05 billion to USD 630.607 billion for the week ended January 31, the Reserve Bank of India (RBI) said on Friday.
ADVERTISEMENT
In the previous reporting week, the overall reserves had increased by USD 5.574 billion to USD 629.557 billion.
This is the second consecutive week of an increase in the reserves, which have otherwise been on a declining trend for the last few weeks due to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee.
The forex reserves had increased to an all-time high of USD 704.885 billion in end-September 2024.
For the week ended January 31, foreign currency assets, a major component of the reserves, decreased by USD 207 million to USD 537.684 billion, the data released on Friday showed.
Expressed in US 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 increased by USD 1.242 billion to USD 70.893 billion during the week, RBI said.
The Special Drawing Rights (SDRs) were up by USD 29 million to USD 17.889 billion, the central bank said.
India's reserve position with the International Monetary Fund (IMF) was down by USD 14 million at USD 4.141 billion in the reporting week, the apex bank data showed.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
