Foreign exchange reserves increase by $ 4.85 billion to $ 590.18 billion

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The country’s foreign exchange reserves rose by $ 4.85 billion, hitting a record high of $ 590.18 billion in the week ended January 29, according to the latest data from RBI.

In the week prior to January 22nd, reserves rose $ 1.09 billion to $ 585.33 billion.

For the week ended January 29, reserves increased due to an increase in foreign currency assets, a major component of total reserves.

The FCA jumped $ 5.03 billion to $ 547.22 billion, according to weekly data from the Reserve Bank of India (RBI).

Expressed in dollars, foreign currency assets include the effect of the appreciation or depreciation of non-US units such as the euro, pound and yen held in currency reserves.

Gold reserves declined $ 164 million to $ 36.29 billion for the week ended January 29.

Special drawing rights at the International Monetary Fund (IMF) decreased by USD 4 million to USD 1.51 billion in the reporting week.

The country’s reserve position with the IMF also fell $ 6 million for the week to $ 5.16 billion, the data showed.

This story was published by a wire agency feed with no changes to the text. Only the heading was changed.

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Foreign exchange reserves increase by $ 4.85 billion to $ 590.18 billion
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