Forex reserves rise to $631.953 billion

The country's foreign exchange reserves increased by $2.198 billion to $631.953 billion in the week ended February 4, RBI data showed. In the previous week ended January 28, the reserves had declined by $4.531 billion to $629.755 billion. It touched a lifetime high of $642.453 billion in the week ended September 3, 2021.

During the reporting week, the surge in the foreign exchange reserves was on account of a rise in the Foreign Currency Assets (FCA), a major component of the overall reserves, and gold reserves, according to Reserve Bank of India's (RBI) weekly data released on Friday. FCA increased by $2.251 billion to $568.329 billion in the week ended February 4.