Forex reserves rise by $240.4 mn to $399.53 bn

By: | Published: November 24, 2017 7:19 PM

The foreign exchange reserves rose by USD 240.4 million to USD 399.533 billion in the week to November 17, helped by an increase in foreign currency assets, the weekly data from the Reserve Bank showed today.

Foreign exchange, RBI, Foreign currency assets, US dollarThe foreign exchange reserves rose by USD 240.4 million to USD 399.533 billion in the week to November 17, helped by an increase in foreign currency assets, the weekly data from the Reserve Bank showed today. (Image: Reuters)

The foreign exchange reserves rose by USD 240.4 million to USD 399.533 billion in the week to November 17, helped by an increase in foreign currency assets, the weekly data from the Reserve Bank showed today.  In the previous week, the reserves had risen by USD 554.2 million to USD 399.293 billion.  The foreign currency assets, a major component of the overall reserves, increased by USD 220.4 million to USD 375.096 billion, the data showed.

Expressed in the US dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.  The gold reserves remained unchanged at USD 20.666 billion.  The special drawing rights with the International Monetary Fund rose by USD 7.9 million to USD 1.497 billion.  The country’s reserve position with the Fund increased by USD 12.1 million to USD 2.273 billion, the apex bank said.

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