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

Foreign exchange reserves swell by $1.8 bn to $421.8 bn, shows RBI data

Forex reserves had touched a record high of $426.028 billion in the week to April 13, 2018

Forex Reserves  |  Foreign Exchange Reserves  |  Us Dollar

Press Trust of India  |  Mumbai 

Foreign exchange reserves
Photo: Shutterstock

The country's increased by $1.875 billion to $421.867 billion in the week to May 31, Reserve Bank of India (RBI) data showed Friday.

In the previous week, the reserves had risen by $1.99 billion to $419.99 billion.

In the reporting week, foreign currency assets, which is a major component of the overall reserves, rose by $1.946 billion to $394.134 billion. Expressed in dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US units like the euro, pound and yen held in the reserves.

had touched a record high of $426.028 billion in the week to April 13, 2018. After remaining stable for past few weeks, gold reserves declined by $62.9 million to $22.958 billion, according to the RBI data. The special drawing rights with the International Monetary Fund fell by $2.3 million to $1.443 billion.

The country's reserve position with the fund also declined by $5.3 million to $3.331 billion.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, June 07 2019. 18:35 IST