The country’s foreign exchange reserves jumped by a massive $ 7.779 billion to touch a lifetime high of $ 568.494 billion in the week ended November 6, RBI data showed on Friday. In the previous week ended October 30, the reserves had increased by $ 183 million to $ 560.715 billion.
In the reporting week, the jump in reserves was mainly on account of an increase in foreign current assets (FCAs), a major component of the overall reserves. FCAs increased by $ 6.403 billion to $ 524.742 billion, the central bank’s weekly data 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. After declining in the previous week, the gold reserves rose by $ 1.328 billion to $ 37.587 billion in the week ended November 6, as per the Reserve Bank of India (RBI) data.
The special drawing rights with the International Monetary Fund (IMF) rose by $ 7 million to $ 1.488 billion during the week. The country’s reserve position with the IMF also increased by $ 40 million to $ 4.676 billion.
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