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Forex reserves touch record $461.16 billion

Fri Jan 10 2020

 

The country’s foreign exchange reserves touched a record high of $461.157 billion, after it surged by $3.689 billion in the week to January 3, according to the Reserve Bank of India (RBI) data.

 

In the previous week, the reserves had risen by $2.52 billion to $454.948 billion.

 

In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by $3.013 billion to $427.949 billion, the data released by the RBI on Friday showed.

 

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-United States (US) units like the euro, pound and yen held in the forex reserves.

 

In the reporting week, gold reserves rose by $666 million to $28.058 billion.

 

The special drawing rights with the International Monetary Fund (IMF) were up by $7 million to $1.447 billion.

 

India’s reserve position with the IMF increased by $3 million to $3.703 billion, the data showed

 

Source: Hindu business line.

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