RBI's foreign exchange reserves rise $1.7 bn in a week to $573 bn

FX reserves rise $1.7 bln in a week to $573 bln

The Reserve Bank of India’s (RBI’s) foreign exchange reserves climbed $1.7 billion to $573.73 billion in the week ended January 20, latest data showed. 

The rise was on account of an increase in the RBI’s foreign currency assets as well as its gold holdings. The foreign currency assets rose $839 million to $506.36 billion, while gold reserves increased by $821 million to $43.71 billion in the previous week, the data showed.

In the week gone by, the rupee appreciated 0.3 per cent versus the US dollar. The US dollar index ended the week flat around the 102.2-mark, Bloomberg data showed.