India’s Forex reserves rise $441 million to new lifetime high of $448.2 billion

By: |
Published: November 22, 2019 8:56 PM

The overall foreign exchange reserves, which have been on an upward trend for many weeks now, had swelled by USD 1.71 billion to USD 447.808 billion in the previous reporting week.

India, Forex, Forex reserve, new lifetime high, Reserve Bank, rbiExpressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the foreign exchange reserves.

India’s forex reserves rose by USD 441 million to a fresh lifetime high of USD 448.249 billion in the week to November 15 on an increase in core currency assets, RBI data showed on Friday.

The overall foreign exchange reserves, which have been on an upward trend for many weeks now, had swelled by USD 1.71 billion to USD 447.808 billion in the previous reporting week.

The foreign currency assets, a major component of the reserves, increased by USD 643 million to USD 416.472 billion in the week ended November 15, as per the Reserve Bank data.

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

During the week, gold reserves decreased by USD 200 million to USD 26.709 billion, it said. The special drawing rights with the International Monetary Fund was down by USD 5 million to USD 1.435 billion.

The country’s reserve position with the Fund increased by USD 3 million to USD 3.633 billion, the apex bank data showed.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Rising real lending rate roiling RBI rate cuts, scuppering credit offtake and growth, says BofA report
2Modi’s Jan Dhan Yojana reaches new height; 40 crore bank accounts added under PMJDY in 6 years
3RBI monetary policy: Will Reserve Bank cut interest rate in upcoming MPC meet amid these fears?