The country’s foreign exchange reserves increased by $ 2.229 billion to $ 634.965 billion in the week ended January 14, 2022. This information has been given in the data released on Friday by the Reserve Bank of India i.e. RBI.
Earlier, in the week ended January 7, foreign exchange reserves had declined by $ 878 million to $ 632.736 billion. Earlier, in the week ended December 31, 2021, foreign exchange reserves had declined by $ 1.466 billion to $ 633.614 billion. In the week ended December 24, foreign exchange reserves had declined by $ 587 million to $ 635.08 billion.
FCA raised by $1.345 billion
According to the weekly data released by the RBI on Friday, the reason for the jump in foreign exchange reserves in the week ended January 14 is the increase in foreign currency assets (FCA) and gold reserves, which are considered a significant part of the total reserves. . According to RBI data, FCAs rose by $1.345 billion to $570.737 billion during the week. Denominated in dollars, FCAs also include the effect of increase or decrease in the value of other foreign currencies such as the euro, pound and yen held in foreign exchange reserves.
Increase in gold reserve
Apart from this, the value of gold reserves increased by $ 276 million to $ 39.77 billion in the reporting week. In the reporting week, the country’s SDR (Special Drawing Rights) in the International Monetary Fund (IMF) increased by $ 123 million to $ 19.22 billion. The country’s currency reserves in the IMF also increased by $ 36 million to $ 5.238 billion.