New Delhi: Indian Forex kitty increased by $1.853 billion to $595.051 billion in the week which ended on June 30, the Reserve Bank of India (RBI) stated on Friday.

The overall reserve had dropped by $2.901 billion to $593.198 billion in the previous reporting week

In October 2021, the country’s forex reserve recorded an all-time high of $645 billion. The reserves have been reducing since the apex body of banks keeps on deploying the kitty to defend the rupee amid pressures mainly caused by global developments.

The foreign currency assets, major components of the reserves, raised by $2.539 billion to $527.979 billion during the week that ended on June 30, as per the Weekly Statistical Supplement released by the RBI.

Adding further, the RBI said that the gold reserves dropped by $472 million to $43.832 billion. As per the apex bank, the special drawing right (SDRs) saw a fall of $95 million to $18.239 billion.

India’s reserve position with the IMF was reduced by $118 million to $5.002 billion in the reporting week, RBI data showed.

Foreign currency expressed in dollar terms, includes the effect of appreciation or depreciation of non-Us units like euro, pound and yen held in the foreign exchange reserves.

(Written by – Mahek Nigam

Edited By – Prateek Gautam)