According to the Reserve Bank of India’s weekly statistical supplement, India’s foreign exchange, Forex reserves have increased by USD 1.594 billion to touch a lifetime high of USD 372.73 billion in the week that ended on April 28.
The increase was due to increase in foreign currency assets (FCAs), The reserves had increased by USD 1.250 billion to USD 371.14 billion in the previous week.
The components of India’s Foreign Exchange Reserves include foreign currency assets (FCAs) Gold Special Drawing Rights (SDRs) RBI’s Reserve position with International Monetary Fund (IMF).
FCAs constitute the largest component of the Forex Reserves. FCA surged $1.569 billion to $349.055 billion in the reporting week. FCAs consist of US dollar and other major non-US global currencies.
It also comprises of investments in US Treasury bonds, bonds of other selected governments, deposits with foreign central and commercial banks.
FCAs include with them the effects of appreciation or depreciation of non-US currencies like the euro, pound, and the yen and is expressed in terms of dollars.
The gold reserves stand at USD 19.869 billion. SDRs’ value has increased USD 8.5 million to reach USD 1.460 billion. RBI’s reserve position with the IMF also increased by USD 15.8 million to reach USD 2.347 billion.