Forex kitty nears $440 bn; touches fresh-life high

October 19
08:56 2019

The forex kitty continued to climb north, swelling by $ 1.879 billion to a new life-time high of $ 439.712 billion, in the week to October 11, the Reserve Bank said on October 18.

The forex reserves had increased by a higher $ 4.24 billion to a new high of $ 437.83 billion in the previous reporting week.

For the week under review, the foreign currency assets, which are the biggest part of the reserves, increased by $ 2.269 billion to $ 407.88 billion, the RBI said.

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.

The value of the gold reserves dipped by $ 399 million to $ 26.778 billion for the week, the RBI said.

The special drawing rights with the International Monetary Fund rose $ 2 million to $ 1.431 billion during the week.

The country’s reserve position with the Fund also increased by $ 7 million to $ 3.623 billion, the data showed.The Great Diwali Discount!
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