The country’s foreign exchange reserves surpassed the $ 600 billion mark for the first time after increasing $ 6.842 billion in the week ending June 4, RBI data showed on Friday.
Reserve Bank of India (RBI) weekly data showed that reserves rose to a record $ 605.008 billion for the reporting week, boosted by a rise in foreign exchange assets (FCA), the main component of total reserves.
In the previous week ended May 28, 2021, reserves increased by $ 5.271 billion to $ 598.165 billion.
For the reporting week, FCA jumped $ 7.362 billion to $ 560.890 billion, according to the data.
In dollar terms, assets denominated in foreign currencies include the effect of appreciation or impairment of non-US units such as the euro, pound and yen held in foreign exchange reserves.
Gold reserves decreased by US $ 502 million to US $ 37.604 billion.
Special Drawing Rights (SDRs) at the International Monetary Fund (IMF) fell $ 1 million to $ 1.513 billion.
According to the data, the country’s reserve position in the IMF for the reporting week also decreased by $ 16 million to $ 5 billion.