Forex reserves increase by $169 mn to $583.865 bn, RBI data shows

The country's foreign exchange reserves increased by USD 169 million to USD 583.865 billion in the week ended February 19, RBI data showed.

In the previous week ended February 12, the reserves had declined by USD 249 million to USD 583.697 billion. It had touched a record high of USD 590.185 billion in the week ended January 29 this year.

During the reporting week, the increase in reserves was due to a rise in the foreign currency assets (FCAs), a major component of the overall reserves.

FCA rose by USD 1.155 billion to USD 542.106 billion, the Reserve Bank of India's (RBI) weekly data showed.

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.

The gold reserves declined by USD 977 million to USD 35.25 billion in the week, the RBI data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) fell by USD 4 million to USD 1.508 billion in the reporting week.

The country's reserve position with the IMF also declined by USD 4 million to USD 5.002 billion in the reporting week, the data showed.