Forex reserves up by $3.85 bn to $601.36 bn

The country's foreign exchange reserves increased by $3.85 billion to $601.36 billion in the week ended May 27, according to RBI data.

In the previous week, the reserves rose by $4.23 billion to $597.51 billion.

During the reporting week, the rise in forex reserves was due to an increase in the Foreign Currency Assets (FCA) and the gold reserves, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI) on Friday.

FCA increased by $3.61 billion to $536.99 billion in the week ended May 27.

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 $94 million to $40.92 billion.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose by $132 million to $18.44 billion.

The country's reserve position with the IMF also increased by $18 million to $5.02 billion in the reporting week, the data showed.