You are here: Home » Finance » Money & Forex Markets » News
Business Standard

Forex kitty continues to scale new peaks, touches $414.78 bn: RBI data

Gold reserves remained unchanged at $20.421 bn

Press Trust of India  |  Mumbai 

Dollar, US, $

The rally in the continued for the fourth week in a row, and scaled a new peak at $414.784 billion in the week to January 19, helped by rise in foreign currency assets, according to the Reserve data.

The data showed that the reserves rose by $959.1 million to touch during the reporting week.

In the previous week, the reserves had touched $413.825 billion after it rose by $2.7 billion.

The reserves had crossed the $400-billion mark for the first time in the week to September 8, 2017 but has since been fluctuating. But for the past four weeks it have been on a continuous rally.

In the reporting week, foreign currency assets, a major component of the overall reserves, rose by $934.6 million to $390.768 billion, the RBI said.

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

Gold reserves remained unchanged at $20.421 billion, the said.

The country's special drawing rights with the rose by $10.4 million to $1.531 billion, while the country's reserve position with the Fund also jumped by $14.1 million to $2.06 billion during the reporting week, the said.

First Published: Fri, January 26 2018. 19:43 IST
RECOMMENDED FOR YOU