Forex reserves climb $2.518 billion to record $575.29 billion

By: |
November 27, 2020 6:31 PM

In the reporting week, the increase in the forex kitty was on account of a rise in foreign currency assets (FCAs), a major component of the overall reserves.

FCAs rose by USD 2.835 billion to USD 533.103 billion, according to the weekly data by the Reserve Bank of India (RBI).FCAs rose by USD 2.835 billion to USD 533.103 billion, according to the weekly data by the Reserve Bank of India (RBI).

The country’s foreign exchange reserves rose by USD 2.518 billion to touch a lifetime high of USD 575.29 billion in the week ended November 20, RBI data showed on Friday.

In the previous week ended November 13, the reserves had surged by USD 4.277 billion to USD 572.771 billion.

In the reporting week, the increase in the forex kitty was on account of a rise in foreign currency assets (FCAs), a major component of the overall reserves.

FCAs rose by USD 2.835 billion to USD 533.103 billion, according to the weekly data by the Reserve Bank of India (RBI).

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

The gold reserves declined by USD 339 million in the reporting week to USD 36.015 billion, as per the central bank data.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) marginally rose by USD 4 million to USD 1.492 billion.

The country’s reserve position with the IMF also increased by USD 19 million to USD 4.680 billion.

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