Forex kitty continues to swell, adds another USD 1.1 billion

Reserves had increased by USD 1.876 billion to USD 413.781 billion last week.

Published: 19th April 2019 07:37 PM  |   Last Updated: 19th April 2019 08:06 PM   |  A+A-

Reserve Bank of India

Reserve Bank of India (File Photo | PTI)

By PTI

MUMBAI: India's foreign exchange reserves continued its northward push, increasing by USD 1.105 billion to touch USD 414.886 billion in the week to April 12, the Reserve Bank data showed on Friday.

In the previous week, reserves had increased by USD 1.876 billion to USD 413.781 billion. In the reporting week, foreign currency assets, which are a major component of the overall reserves, rose by USD 646.4 million to USD 386.762 billion.

Expressed in US dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US currencies like the euro, pound and the yen held in the reserves. The forex kitty had touched a life-time high of USD 426.028 billion in the week to April 13, 2018.

Gold reserves also increased by USD 77.4 million to USD 23.303 billion, according to the data. The special drawing rights with the International Monetary Fund was up by USD 3.3 million to USD 1.458 billion.

The country's reserve position with the Fund also increased by USD 378.1 million to USD 3.362 billion, the apex bank said.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp