New Delhi: The country’s foreign exchange reserves increased by $ 6.842 billion in the week ended June 4, 2021, crossing $ 600 billion for the first time. According to the weekly data released by the Reserve Bank of India on Friday, forex reserves reached a record high of $ 605.008 billion in the reporting week. The reason for this increase is the good growth in Foreign Currency Assets (FCA). It forms a significant part of the total currency reserves.
Earlier, in the week ended 28 May 2021, foreign exchange reserves had increased by $ 5.271 billion to $ 598.165 billion. According to the weekly data of the Reserve Bank, foreign currency assets increased by $ 7.362 billion to $ 560.890 billion during the week under review.
Foreign currency assets are expressed in dollars. This includes assets denominated in the euro, pound and yen in addition to the dollar. During the week under review, gold reserves declined by $ 502 million to $ 37604 billion.
