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Forex reserves up by $3.378 billion to record $545.038 billion.


Date: 26-09-2020
Subject: Forex reserves up by $3.378 billion to record $545.038 billion
MUMBAI: The country's foreign exchange reserves increased by $3.378 billion to touch a lifetime high of $545.038 billion in the week ended September 18, RBI data showed. 

In the previous week ended September 11, the reserves had declined by $353 million to $541.660 billion. 

During the reporting week, the forex kitty rose mainly due to an increase in foreign currency assets (FCA), a major component of the overall reserves. 

FCAs swelled by $3.943 billion to $501.464 billion in the reporting week, 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. 

Gold reserves were down by $580 million in the reporting week to $37.440 billion. 

The special drawing rights with the International Monetary Fund (IMF) were up by $1 million to $1.483 billion. 

The country's reserve position with the IMF rose by $14 million to $4.651 billion during the reporting week, as per the data. 

Source:-timesofindia.indiatimes.com

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