India’s forex reserves up by USD 1.36 billion to USD 420.05 billion

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Published: May 17, 2019 10:04:06 PM

Gold reserves remained unchanged at USD 23.021 billion, according to the data. The special drawing rights with the International Monetary Fund rose by USD 3 million to USD 1.454 billion.

 India, forex reserve, foreign exchange reserves, USD, INR, RBI, economy news,  foreign currency assets, forex reserve indiaIndia’s forex reserves up by USD 1.36 billion to USD 420.05 billion (Reuters)

The country’s foreign exchange reserves rose by USD 1.368 billion to reach USD 420.055 billion in the week to May 10 on account of a rise in foreign currency assets, RBI data showed Friday. In the previous week, the reserves had increased by USD 171.9 million to USD 418.687 billion.

In the reporting week, foreign currency assets, which are a major component of the overall reserves, swelled by USD 1.358 billion to USD 392.227 billion. Expressed in dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US units like the euro, pound and the yen held in the reserves.

Gold reserves remained unchanged at USD 23.021 billion, according to the data. The special drawing rights with the International Monetary Fund rose by USD 3 million to USD 1.454 billion.

The country’s reserve position with the Fund also increased by USD 7 million to USD 3.351 billion, according to the RBI data. The forex kitty had touched a life-time high of USD 426.028 billion in the week to April 13, 2018.

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