MUMBAI: Landets foreign exchange reserves increased by $ 2.296 billion to reach $ 537.548 billion in the week to August 21, Indian Reserve Bank (RBI) data were shown on Friday.
In the previous week ending August 14, reserves had fallen by $ 2.939 billion to $ 535.252 billion.
That forex kitty had increased by $ 3.623 billion to reach a record high of $ 538.191 billion in the week ending August 7th.
In the reporting week, the increase in reserves is mainly due to a jump in foreign currency assets (FCAs), a significant component of total reserves.
The FCA rose $ 2.618 billion to $ 494.168 billion in the reporting week, central bank data showed.
Expressed in dollar terms, assets in foreign currency include the effect of strengthening or depreciating units outside the United States such as the euro, the pound and the yen contained in foreign currency reserves.
Gold reserves fell by $ 331 million in the reporting week to $ 37.264 billion.
The special drawing rights with the International Monetary Fund (IMF) increased $ 2 million to $ 1.481 billion.
The country’s reserve position with the IMF also rose by $ 6 million to $ 4.634 billion during the reporting week, the data shows.