Forex reserves claw back to $400-billion mark

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

By: PTI | Mumbai | Published: December 1, 2017 8:05 pm
forex debt, corporate debt, foreign exchange, mutual funds, financial year, maturiry period, forex borrowers, GNPA, NPA, indian express news, business news The spike in reserves was helped by an increase in foreign currency assets.

India’s foreign exchange reserves reclaimed the $ 400-billion mark again, rising by $ 1.208 billion to touch $ 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 $ 240.4 million to $ 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 $ 1.208 billion to $ 376.304 billion for the reporting week, the RBI said today.

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

Gold reserves remained unchanged at $ 20.666 billion.

The special drawing rights with the International Monetary Fund marginally declined by $ 0.1 million to $ 1.497 billion.

The country’s reserve position with the Fund also fell by $ 0.2 million to $ 2.272 billion, the apex bank said.

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