Lagatar24 Desk
New Delhi, Feb 26: Reserve Bank of India’s (RBI) latest figures showed that the country’s foreign currency (forex) reserves increased to $632.952 billion for the week ended February 18, primarily to an increase in the value of gold reserves.
According to the RBI’s monthly statistics supplement, gold reserves increased by $1.274 billion to $41.509 billion during the week under review.
Forex reserves declined by $1.763 billion to $630.19 billion in the previous week (week ending February 11).
The country’s foreign currency assets, which make up the majority of the country’s forex reserves, increased by $1.496 billion to $567.06 billion in the week ending February 18.
Foreign currency assets include the effect of appreciation or depreciation of non-dollar currencies held in foreign exchange reserves, such as the Euro, the Pound Sterling of the United Kingdom, and the Japanese Yen.
The International Monetary Fund (IMF) increased India’s reserve position by $4 million to $5.221 billion.
