India's forex reserves rise to two-month high

Indias foreign exchange reserves rose to a two-month high of $640.48 billion as of February 21, data released by the central bank on Friday showed.

The reserves rose by $4.76 billion in the reported week. They had fallen by $2.54 billion in the prior week, the most in a month.

Foreign currency assets, a major component of forex reserves, grew by $4.25 billion to $543.84 billion.

Gold reserves increased by $426 million to $74.576 billion during the reporting week, the RBI said.

The Special Drawing Rights (SDRs) were up by $73 million to $17.971 billion, the central bank said.

India's reserve position with the IMF was up by $7 million at $4.09 billion in the reporting week, the apex bank data showed.

 

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