Forex reserves increased in May 2022
Mumbai:
The country’s foreign exchange reserves rose by $3.854 billion to $601.363 billion in the week ended May 27, according to data from the Reserve Bank of India (RBI).
In the previous week, reserves rose by $4.230 billion to $597.509 billion.
According to the weekly statistical supplement released by RBI on Friday, during the week under review, the increase in foreign exchange reserves was due to increase in foreign currency assets (FCA) and gold reserves.
FCA rose by $3.61 billion to $536.988 billion for the week ended May 27.
Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.
Gold reserves rose by $94 million to $40.917 billion.
Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose by $132 million to $18.438 billion.
The country’s reserve position with the IMF also rose by $18 million to $5.019 billion in the reporting week, the data showed.