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.