The country’s foreign exchange reserves rose by $ 1.193 billion to reach $582.406 billion in the week ended April 16, RBI data showed on Friday.
In the previous week ended April 9, the forex kitty had surged by USD 4.344 billion to USD 581.213 billion. The reserves had touched a lifetime high of USD 590.185 billion in the week ended January 29, 2021. In the week ended April 16, 2021, the increase in reserves was mainly due to a rise in foreign currency assets (FCAs), a major component of the overall reserves. FCAs rose by USD 1.13 billion to USD 540.585 billion, weekly data by the Reserve Bank of India (RBI) showed. Expressed in 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.