In the reporting week, the increase in reserves was due to a rise in foreign currency assets (FCAs), a major component of the overall reserves.
FCAs rose by USD 1.382 billion to USD 537.727 billion, the Reserve Bank of India‘s (RBI) weekly data 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.
The gold reserves increased by USD 1.008 billion in the reporting week to USD 37.020 billion in the week ended December 18, the data showed.
The country’s reserve position with the IMF also rose by USD 160 million to USD 4.870 billion.