Forex Reserves of India Shows Signs of Improvement by $1.27 Billion

After falling in the previous week, the country’s foreign exchange reserves rose $1.27 billion to $506.84 billion in the week ended June 26, according to the latest data from the RBI. In the previous week ended June 19, the reserves had dipped by $2.08 billion to $505.57 billion.

The reserves had crossed the half-a-trillion dollar mark for the first time in the week ended June 5 after it had surged by a massive $8.22 billion and reached $ 501.70 billion.

It had touched a life-time high of $507.64 billion in the week ended June 12.

In the week ended June 26, the reserves rose due to an increase in foreign currency assets (FCA), which is a major component of the overall reserves.

FCA rose by $565 million to $467.60 billion in the reporting week, the RBI data showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.