On the back of surge in the foreign currency assets, forex reserves of India climbed again to the US$ 400 billion mark. In the week to November 24, the reserves increased by USD 1.208 billion.
As per the RBI data released on a week on week basis, in the preceding week, the reserves saw an increase of USD 240.4 million and reached USD 399.533 billion.
Of the several components that make up the foreign reserves of India, foreign currency assets account to the largest. And changes in the non-US currencies such as yen, pound and the euro in terms of depreciation or appreciation triggers the change in the value of foreign currency assets.
For the reporting week, gold reserves stood constant at USD 20.666 billion.
With Inputs From PTI