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Forex reserves climb $3.883 billion to record $541.431 billion.


Date: 05-09-2020
Subject: Forex reserves climb $3.883 billion to record $541.431 billion
MUMBAI: The country's foreign exchange reserves surged by $3.883 billion to touch a lifetime high of $541.431 billion in the week ended August 28, RBI data showed on Friday. 

In the previous week ended August 21, the reserves had risen by $2.296 billion to $537.548 billion. 

In the reporting week, the fore kitty rose mainly on the back of a jump in foreign currency assets (FCAs), a major component of the overall reserves. 

FCAs increased by $3.925 billion to $498.094 billion, the central bank data showed. 

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. 

The gold reserves were down by $64 million in the reporting week to $37.2 billion, as per the RBI data. 

The special drawing rights with the International Monetary fund(IMF) remained unchanged at $1.481 billion. 

The country's reserve position with the IMF rose by $22 million to $4.657 billion during the reporting week, the data showed. 

Source:-timesofindia.indiatimes.com

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