Foreign exchange reserves climbed sharply to a new record level in the week ended February 13, rising by $8.663 billion to $725.727 billion, the Reserve Bank of India (RBI) said on Friday, PTI reported.The latest increase follows a decline of $6.711 billion in the previous reporting week, when the reserves had slipped to $717.064 billion. The earlier peak of $723.774 billion was recorded in January this year.A major contributor to the rise was foreign currency assets (FCAs), which form the largest portion of the reserves. These increased by $3.55 billion to $573.603 billion during the week, according to RBI data.FCAs, expressed in dollar terms, reflect the valuation impact of movements in major global currencies such as the euro, pound and yen that are part of India’s reserve holdings.Gold reserves also registered a strong uptick, rising by $4.99 billion to $128.466 billion, indicating valuation gains amid firm global bullion prices.Meanwhile, Special Drawing Rights (SDRs) rose by $103 million to $18.924 billion during the reporting period, the central bank said.India’s reserve position with the International Monetary Fund (IMF) also improved marginally, increasing by $19 million to $4.734 billion in the week under review, as per RBI figures.
