India’s forex reserves touch life-time high of USD 462.16 billion

By: |
Published: January 24, 2020 6:23:18 PM

In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by USD 867 million to USD 428.45 billion.

forex, india forex, india forex reserve, rbi, rbi forex reserve, indian economy, india gdpIn the previous week, the reserves had increased by USD 58 million to USD 461.21 billion.

The country’s foreign exchange reserves rose USD 943 million to touch a life-time high of USD 462.16 billion in the week ended January 17, according to the latest data from the RBI. In the previous week, the reserves had increased by USD 58 million to USD 461.21 billion.

In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by USD 867 million to USD 428.45 billion, the data released by the Reserve Bank of India (RBI) on Friday showed.

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. In the reporting week, gold reserves increased USD 70 million to USD 28.56 billion.

The special drawing rights with the International Monetary Fund (IMF) were up by USD 3 million to USD 1.45 billion. The country’s reserve position with the IMF rose by USD 3 million to USD 3.70 billion, the 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.

Next Stories
1Donald Trump to sign trade accord with Mexico, Canada next week: White House
2Stray cows now to give birth to ‘elites’: Here’s how govt plans to resolve its cattle menace
3Economic woes nearing end; these key sectors likely to turn it around for India’s growth