India's forex reserves rise by $5.57 billion

India's forex reserves increased $5.574 billion to $629.557 billion in the week ended January 24, the Reserve Bank of India said on Friday (January 31). In the previous reporting week, the overall kitty had dropped $1.888 billion to $623.983 billion.

For the week ended January 24, foreign currency assets, a major component of the reserves, increased from $4.758 billion to $537.891 billion, as per the RBI data.

Gold reserves increased $704 million to $69.651 billion during the week. The Special Drawing Rights (SDRs) were up $79 million to $17.861 billion, the apex bank said.

India's reserve position with the IMF was up $33 million to $4.154 billion in the reporting week, the apex bank data showed.

 

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