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Forex reserves jump to $401.293 bn on the back of rise in currency assets

Gold reserves rose by $ 35.7 million to $ 20.763 billion

Press Trust of India  |  Mumbai 

Rupee, NPS, National Pension System

The country's rose by $ 445.4 million to $ 401.293 billion in the week to August 24 on the back of increase in currency assets, said on Friday.

In the previous week, the overall reserves had witnessed a drop of $ 33.2 million to $ 400.84 billion.

The reserves had been declining in the past few weeks as the (RBI) is selling the to contain depreciation in the rupee, which breached the 71 mark against the greenback today, its lowest ever.

In the week to August 24, foreign currency assets, a major component of the overall reserves, swelled by $ 386.6 million to $ 376.591 billion, as per the data released on Friday.

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

rose by $ 35.7 million to $ 20.763 billion for the reporting week, the apex bank said.

The special drawing rights with (IMF) increased by $ 8.6 million to $ 1.471 billion, while the country's reserve position with the was also up by $ 14.5 million to $ 2.467 billion, the central bank said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, August 31 2018. 19:36 IST