For the previous week, India’s foreign exchange reserves rose by $8.66 billion to hit an all-time high of $725.727 billion in the week ending February 13, data released by the RBI. The previous all-time high of $723.774 billion was touched in January.
For the week ended February 20, foreign currency assets, a major component of the reserves, decreased by $1.039 billion to $572.564 billion, the data released by the central bank showed.
Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.
The value of the gold reserves dropped by $977 million to $127.489 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by $84 million to $18.84 billion, the apex bank said.
India’s reserve position with the IMF was also down by $18 million to $4.716 billion in the reporting week, according to the apex bank’s data.