The country’s foreign exchange reserves increased by $ 2.198 billion to $ 631.953 billion in the week ended February 4, 2022. This information has been given in the data released by the Reserve Bank of India (RBI) on Friday.
Earlier, in the last week ended January 28, the foreign exchange reserves had declined by $ 4.531 billion to $ 629.755 billion. According to RBI data, in the week ended January 21, foreign exchange reserves had declined by $ 678 million to $ 634.287 billion.
FCA raised by $2.251 billion
According to the weekly data of RBI, the reason for the jump in foreign exchange reserves in the week ended February 4 is the increase in Foreign Currency Assets ie FCA (Foreign Currency Assets) and gold reserves, which are considered a significant part of the total reserves. According to RBI data, FCAs rose by $2.251 billion to $568.329 billion during the week. Denominated in dollars, FCA also includes the effect of increase or decrease in the value of other foreign currencies such as euro, pound and yen held in foreign exchange reserves.
Gold reserve decline
Apart from this, the value of gold reserves decreased by $ 2.1 million to $ 39.283 billion in the reporting week. In the reporting week, the country’s SDR (Special Drawing Rights) in the International Monetary Fund ie MIF (IMF) increased by $ 980 million to $ 19.108 billion. The country’s currency reserves in the IMF increased by $ 59 million to $ 5.233 billion.