Foreign currency assets have lifted the forex reserves of India to a new high for the fourth straight week ending January 19 to USD 414.78 billion. This has come off after a surge in reserves by USD 959.1 million.
For the first time the USD 400 billion mark was crossed in September 2017 but since then has been fluctuating.
For the reporting period, the major component of forex reserves i.e foreign currency assets increased by USD 934.6 million to USD 390.768 billion as per the RBI data. And this effect is seen mainly on account of the depreciation or appreciation of non-US currencies including yen, pound etc.
Gold however remained constant at USD 20.421 billion for the reporting week.
The country SDR with the IMF increased to USD 1.531 billion up by USD 10.4 million while the reserve position also increased at the same time to USD 2.06 billion, with an increase of USD 14.1 million.
With Inputs From PTI