Forex reserves claw back to $400 bn mark

Source: The Hitavada      Date: 03 Dec 2017 10:48:35









 Dec 2 ,


INDIA’S foreign exchange reserves reclaimed the USD 400 billion mark again, rising by USD 1.208 billion to touch USD 400.741 billion in the week to November 24, according to the weekly data from the Reserve Bank. In the previous week, the reserves rose by USD 240.4 million to USD 399.533 billion, as per the central bank data. The spike in reserves was helped by an increase in foreign currency assets, which are a major component of the overall reserves.

The foreign currency reserves increased by USD 1.208 billion to USD 376.304 billion for the reporting week, the RBI said today. Gold reserves remained unchanged at USD 20.666 billion. The special drawing rights with the International Monetary Fund (IMF) marginally declined by USD 0.1 million to USD 1.497 billion. Country’s reserve position with Fund also fell by USD 0.2 million to USD 2.272 billion, the apex bank said.