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India's Forex Reserve Rises To A Record High Of $461.2 Billion

By Staff

In the week ended 10 January, the country's foreign exchange reserves rose by $58 million to reach an all-time high of $461.21 billion, RBI data showed. In the previous week, the reserves increased by $3.689 billion to $461.15 billion.

India's Forex Reserve Rises To A Record High Of $461.2 Billion

In the reporting week, the reserves rose despite a decline in foreign currency assets (FCA), which is a major component of the overall reserves.

FCA fell by $367 million to $427.582 billion according to RBI data released on Friday.

The foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the forex reserves. These are expressed in US dollar terms.

In the reporting week, gold reserves rose by $435 million to $28.492 billion.

The special drawing rights with the International Monetary Fund declined by $5 million to $1.442 billion.

The country's reserve position with the IMF also declined by $5 million to $3.697 billion, the data showed.

Read more about: forex rbi reserves
Story first published: Saturday, January 18, 2020, 14:16 [IST]
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