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Foreign Exchange Reserve Scales To New Record Of USD 446.098 billion

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On Friday, the data released on Friday showed that due to the increase in foreign currency assets or FCAs, the country's foreign exchange jumped by USD 3.515 billion to scale a new high of USD 446.098 billion in the week to November 1.

Foreign Exchange Reserve Scales To New Record Of USD 446.098 billion
 

In the earlier week, the reserves were reported at USD 442.58 billion, with an increase of USD 1.83 billion.

Previously also the increase in reserve was on account of increase in FCAs, Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the foreign exchange reserves.

During the week, gold reserves increased by USD 301 million to USD 27.353 billion.

The special drawing rights with the International Monetary Fund increased by USD 2 million to USD 1.443 billion during the week.

The country's reserve position with the Fund also increased by USD 10 million to USD 3.648 billion, the data showed.

GoodReturns.in

Read more about: foreign exchange fca dollar
Story first published: Saturday, November 9, 2019, 11:00 [IST]
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