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Forex reserves scale record high of $442.5 billion.


Date: 02-11-2019
Subject: Forex reserves scale record high of $442.5 billion
India's forex reserves increased by $1.832 billion to a new lifetime high of $442.583 billion in the week ended October 25, helped by a jump in core currency assets and value of gold, RBI data showed on November 1. The overall kitty had expanded by $1.04 billion to $440.751 billion in the previous reporting week.

For the week under review, foreign currency assets, which are the biggest part of the reserves, increased by $1.642 billion to $410.453 billion, as per the data.

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 increased by $191 million to $27.052 billion for the week.

The special drawing rights with the International Monetary Fund was up by $1 million to $1.441 billion.

The country's reserve position with the Fund dipped by $2 million to $3.637 billion, the data showed.

Source: moneycontrol.com

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