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.

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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.

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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.