Forex reserves at fresh record high of $409.366 bn

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Mumbai | Published: January 6, 2018 3:19:50 AM

India’s foreign exchange reserves scaled to a fresh record high of $409.366 billion as it rose by $4.44 billion as on December 29 compared to the previous week.

forex reserves in india, current forex reserve, rbi forex reserveForeign currency assets, which form a key component of reserves, rose by a whopping $4.42 billion from the previous week to $385.103 billion. (Reuters)

India’s foreign exchange reserves scaled to a fresh record high of $409.366 billion as it rose by $4.44 billion as on December 29 compared to the previous week. Foreign currency assets, which form a key component of reserves, rose by a whopping $4.42 billion from the previous week to $385.103 billion. FCAs are maintained in major currencies like US dollar, euro, pound sterling, Japanese yen etc. Movement in the FCA occur mainly on account of purchase and sale of foreign exchange by the RBI, income arising out of the deployment of foreign exchange reserves, external aid receipts of the government and revaluation of assets. Gold reserves remained stable at $20.716 billion. Special drawing rights (SDR) from the International Monetary Fund rose by $8.9 million from the previous week to $1.511 billion.

SDR is an international reserve asset created by the IMF and allocated to its members in proportion of their quota at the IMF. The Reserve Position in the IMF rose by $12.1 million to $2.035 billion.

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