India's Foreign Exchange Reserves Rise By $2.229 Billion To $634.965 Billion

India's foreign exchange reserves rose by $2.229 billion during the week ending on 14 January.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the forex reserves increased to $634.965 billion from $632.736 billion reported for the week ending on 7 January.

India's foreign exchange reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.345 billion to $570.737 billion.

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.

Similarly, the value of the country's gold reserves increased by $726 million to $39.77 billion.

Further, the SDR value increased by $123 million to $19.22 billion.

Meanwhile, the country's reserve position with the IMF increased by $36 million to $5.238 billion.