India's forex reserves rise $4.23 billion to nearly $597.51 billion: RBI

Forex reserves increased for the first time snapping tenth consecutive weekly declines.

The reserves are now moving towards the $ 600 billion mark despite current global uncertainties.

Foreign currency assets (FCA) reserves were at $533.378 billion up by $3.825 billion in the week ending May 20, compared to the previous week.

FCA is a major component in the overall reserves followed by



gold.

Gold reserves stood at $40.823 billion in the week ending May 20, up by $253 million from the previous week.

While SDR reserves were at $18.306 billion up by $102 million. Reserve Position in the IMF came in at $5.002 billion up by $51 million in the latest week.

In rupee terms, forex reserves stood over ₹46.38 lakh cr in the week ending May 20, rising by ₹41,682 crore compared to the previous week.