Forex reserves surge by $4.525 billion to record $ 579.346 billion

Within the earlier week ended November 27, the reserves had declined by USD 469 million to USD 574.821 billion. Within the reporting week, the increase in reserves was on account of a rise in foreign forex assets (FCA), a significant element of the general reserves.

FCA rose by USD 3.932 billion to USD 537.386 billion, the Reserve Bank of India’s (RBI) weekly data confirmed. Expressed in dollar terms, the foreign forex assets include the impact of appreciation or depreciation of non-US units just like the euro, pound and yen held within the foreign exchange reserves. The gold reserves increased by USD 535 million in the reporting week to USD 35.728 billion within the week ended December 4, the data confirmed.