Despite the rupee being under pressure for almost a month and more so in the reporting week, the foreign exchange reserves climbed back by $4.546 billion to $674.664 billion in the week to August 16, driven by an increase in foreign currency assets and gold reserves.
The week to August 16 had seen the rupee crossing the sensitive 84 mark twice intraday but it has not yet closed at that low.
According to the latest data from the Reserve Bank, the forex kitty at $674.664 billion is just shy of the peak of USD 674.919 billion it scaled in the week to August 2.
In the previous reporting week ending August 9, the forex kitty had dropped by $4.8 billion to $670.119 billion.
In the reporting week, foreign currency assets, a major component of the reserves, increased by $3.609 billion to $591.569 billion, the RBI data released on Friday 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.
Gold reserves increased by $865 million to $60.104 billion during the week, the RBI said, adding the special drawing rights with the International Monetary Fund rose $60 million to $18.341 billion, while the country’s reserve position with the Fund rose $12 million to $4.65 billion during the week.
