India’s Forex Reserves Increase By $591 Million To $616.7 Billion

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Indias forex reserves increased $591 million to $616.733 billion for the week ended January 26, according to the latest RBI data. In the previous reporting week, the overall reserves had dropped $2.795 billion to $616.143 billion.

For the week ended January 26, the foreign currency assets, a major component of the reserves, increased $289 million to $546.144 billion, the data said.

Gold reserves increased $269 million to $47.481 billion during the week, the RBI said. The special drawing rights (SDRs) were up $27 million to $18.248 billion, the apex bank said.

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Indias reserve position with the IMF was up $6 million to $4.86 billion in the reporting week, the RBIs data showed.

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