India’s currency reserves increased by $12.743 billion this week to $609.022 billion
Bombay:
India’s forex reserves increased by $12.743 billion to $609.022 billion in the week ending July 14.
In the previous reporting week, total reserves had increased by USD 1.23 billion to USD 596.28 billion.
It can be noted that in October 2021, the country’s forex cat had reached an all-time high of $645 billion. Reserves have dwindled as the central bank stakes the pot to defend the rupee amid pressures mainly caused by global developments.
In the week ending January 13 of this year, the total cat had grown by $10.417 billion.
For the week ending July 14, foreign currency assets, a major component of reserves, rose $11.198 billion to $540.166 billion, according to the Weekly Statistical Supplement released today by the RBI.
In dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.
Gold reserves rose $1.137 billion to $45.197 billion, the RBI said.
Special Drawing Rights (SDRs) rose by $250 million to $18.484 billion, the top bank said.
The country’s reserve position with the IMF rose $158 million in the reporting week to $5.175 billion, apex bank data showed.
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