New Delhi: The country's foreign exchange reserves rose $9.427 billion to $620.576 billion in the week ended July 30, 2021. The Reserve Bank of India in its latest data on Friday reported this. Earlier foreign exchange reserves had declined by $1.581 billion to $611.149 billion in the week ended July 23, 2021.

According to weekly data from RBI, the reason for the increase in foreign exchange reserves in the week ended July 30 was the rise of foreign exchange properties (FCA), which is the main component of overall reserves. During this period, FCA gained $8.596 billion to $576.224 billion. Dollar-wise foreign exchange properties also include the impact of an increase or decrease in the value of other foreign currencies such as the euro, pound, and foreign exchange reserves. According to the data, gold reserves during this period increased by $76 million to $37.644 billion.

Meanwhile, the Special Drawing Rights (SDR) with the Imf have increased by $6 million to $1.552 billion. RBI reported that India's foreign exchange reserves with the IMF during the critical week have also increased by $65 million to $5.156 billion. The RBI announced this year's fourth monitoring policy on Thursday. RBI has retained the repo rate at 4 percent and the reverse repo rate at 3.35 percent for the seventh time in a row.

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