Mumbai. The country’s foreign exchange Reserves increased $ 14 billion in the week ended January 2022 to $ 2.229 billion to $ 634.965 billion. The data released by the Reserve Bank of India on Friday provided this information.
Earlier in the week ended January 7, foreign exchange reserves had decreased by $ 87.8 million to $ 632.736 billion. Earlier in the week ended December 31, 2021, foreign exchange reserves were reduced by $ 1.466 billion to $ 633.614 billion. In the week ended December 24, foreign exchange reserves were reduced to $ 58.7 million to $ 635.08 billion.
$ 1.345 billion increased FCA
According to RBI’s weekly data released on Friday, the rise in foreign exchange reserves in the week ended January 14 is due to the rise in foreign currency assets and gold reserves, which are considered to be a significant part of the total currency reserves. According to Reserve Bank data, during the week the FCA rose $ 1.345 billion to $ 570.737 billion. The FCA described in dollars also includes the effect of increasing or decreasing the value of other foreign currencies, such as the euro, pound, and yen, placed in foreign exchange reserves.
Gold Reserve also added
Also in the reporting week, the value of the Gold Reserve rose $ 27.6 million to $ 39.77 billion. In reporting week, the country’s SDR in the International Monetary Fund (IMF) increased by $ 12.3 million to $ 19.22 billion. The country’s currency reserves in the IMF also increased by $ 3.6 million to $ 5.238 billion.