India’s forex kitty increases by $289 mln to $640.40 bln

India’s forex exchange reserves increased by USD 289 million to USD 640.401 billion for the week ended November 19, the Reserve Bank said on Friday. The overall reserves had declined by USD 763 million to USD 640.112 billion in the previous reporting week. They had touched a life time high of USD 642.453 billion in the week ended September 3, 2021.

Foreign Currency Assets (FCA), a major component of the overall reserves, increased by USD 225 million to USD 575.712 billion, according to the Reserve Bank of India’s (RBI) weekly data.

Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

The value of the gold reserves continued their journey north, increasing by USD 152 million to USD 40.391 billion in the reporting week, the data showed.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) dipped by USD 74 million to USD 19.11 billion.

The country’s reserve position with the IMF was down by USD 13 million to USD 5.188 billion in the reporting week.