India’s forex reserves have reached a new lifetime high of $621.5 billion.

According to RBI data released on Friday, the country’s foreign exchange reserves grew by $889 million to a lifetime high of $621.464 billion in the week ending August 6, 2021. The reserves increased by $9.427 billion to $620.576 billion in the week ending July 30, 2021.

According to Reserve Bank of India weekly data, the increase in the forex kitty was owing to a growth in foreign currency assets (FCAs), a major component of overall reserves, in the reporting week (RBI).

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In the reporting week, FCAs increased by $1.508 billion to $577.732 billion.

The effect of appreciation or depreciation of non-US units held in foreign exchange reserves, such as the euro, pound, and yen, is included in the foreign currency assets when expressed in dollar terms.