Forex

Forex reserves rise to $449 b

PTI Mumbai | Updated on November 29, 2019 Published on November 29, 2019

Foreign exchange reserves continued the upward move, gaining by a modest $347 million to touch a new high of $448.6 billion in the week to November 22, according to the weekly data released by the RBI on Friday. In the previous week, the reserves had increased by $441 million to reach $448.249 billion.

The gain in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by $254 million to $416.725 billion in the reporting week, the data showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units, such as the euro, pound and the yen held in forex reserves. During the reporting week, gold reserves increased marginally by $87 million to $26.796 billion. The special drawing rights with the IMF were up by $5 million to $1.44 billion during the week.

Published on November 29, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.