Forex kitty swells by $1.46 bn to reach $283.6 bn

Foreign currency assets rose 1.465 billion to $255.90 billion in the week under review: RBI

The forex reserves jumped for the second consecutive week by adding $1.459 billion in the week to November 15, taking the overall reserves to a healthy $283.57 billion, on account higher foreign currency assets, the Reserve Bank said today.

 

In the week-ago period, reserves rose by $819.5 million to $282.113 billion.

 

Foreign currency assets, which form the largest chunk of the reserves, rose 1.465 billion to $255.90 billion in the week under review, the RBI said.

 

Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves.

 

The gold reserves stood unchanged at $21.227 billion in the week ended on November 15, reflecting the tepid movement in prices.

 

The special drawing rights fell by $3.9 million to $4.411 billion.

 

The country's reserve position with the IMF also fell by $2 million to $2.029 billion in the week under review, RBI data showed.