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Forex reserves rise to $449 billion
PTI Mumbai | Updated on November 29, 2019 Published on November 29, 2019
Press Trust of India
Foreign exchange reserves continued the upward move, gaining by a modest $347 million to touch a new high of $448.6 billion in the week to November 22, according to the weekly data released by the RBI on Friday. In the previous week, the reserves had increased by $441 million to reach $448.249 billion.
The gain in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by $254 million to $416.725 billion in the reporting week, the data showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units, such as the euro, pound and the yen held in forex reserves. During the reporting week, gold reserves increased marginally by $87 million to $26.796 billion. The special drawing rights with the IMF were up by $5 million to $1.44 billion during the week.
Forex reserves rise to $449 billion
PTI Mumbai | Updated on November 29, 2019 Published on November 29, 2019
Press Trust of India
Foreign exchange reserves continued the upward move, gaining by a modest $347 million to touch a new high of $448.6 billion in the week to November 22, according to the weekly data released by the RBI on Friday. In the previous week, the reserves had increased by $441 million to reach $448.249 billion.
The gain in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by $254 million to $416.725 billion in the reporting week, the data showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units, such as the euro, pound and the yen held in forex reserves. During the reporting week, gold reserves increased marginally by $87 million to $26.796 billion. The special drawing rights with the IMF were up by $5 million to $1.44 billion during the week.
