Forex Reserves Climb $3.618 Billion to Record $545.638 Billion

The country’s foreign exchange reserves rose by $3.618 billion to reach a life-time high of $545.638 billion in the week ended October 2, 2020, the RBI data showed. In the previous week ended September 25, the reserves had declined by $3.017 billion to $542.021 billion.

During the reporting week, the increase in forex kitty was on account of rise in foreign currency assets (FCA), a major component of the overall reserves. FCA increased by $3.104 billion to $503.046 billion in the week ended October 2, the 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.