Home News Forex reserve rises by $116.4 million to $393.404 billion – Economic Times

Forex reserve rises by $116.4 million to $393.404 billion – Economic Times

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The country’s foreign exchange reserves increased by $116.4 million to $393.404 billion in the week to December 28, on account of rise in foreign currency assets, according to RBI data.

In the previous week, the reserves had increased by $167.2 million to $393.287 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, rose by $106.3 million to $368.077 billion.

Expressed in US dollars, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

The reserves had touched a record high of $426.028 billion in the week to April 13, 2018. Since then, the forex kitty has been on a slide and is now down by over $31 billion.

Gold reserves remained unchanged at $21.224 billion in the reporting week, the data showed.

The special drawing rights with the International Monetary Fund (IMF) increased by $3.6 million to $1.462 billion.

The country’s reserve position with the IMF also surged by $6.5 million to $2.640 billion, the apex bank said.

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