Money & Banking

Forex reserves surge $1.22 b to $372 b

Our Bureau Mumbai | Updated on January 16, 2018 Published on October 07, 2016

India’s foreign exchange reserves jumped $1.224 billion in the week ended September 30 to touch a new high of $372 billion. In the preceding week, the reserves had increased by $1.166 billion. In the reporting week, the reserves were up solely on account of foreign currency assets, which were up by $1.468 billion. However, the other three components of the reserves were down -- gold ($236.4 million); special drawing rights ($3.3 million); and reserve tranche position in the IMF ($5 million).

Published on October 07, 2016
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