Moneycontrol Be a Pro
Get App
Last Updated : Oct 11, 2019 07:42 PM IST | Source: PTI

Forex reserves at new life-time high of $437.83 billion

The increase in reserves in the reporting week was on account of rise in foreign currency assets (FCA), a major component of the overall reserves.

Representative Image
Representative Image

The country's foreign exchange reserves surged by $4.24 billion to touch a record high of $437.83 billion in the week to October 4, according to the latest data from the Reserve Bank of India. In the previous week, the reserves had surged by massive $5.02 billion to $433.59 billion.

The increase in reserves in the reporting week was on account of rise in foreign currency assets (FCA), a major component of the overall reserves.

FCA increased by $3.99 billion to $405.61 billion in the week ended October 4, the RBI said.

Close

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

During the week, gold reserves increased $232 million to $27.17 billion.

The special drawing rights with the International Monetary Fund was up by $1 million to $1.43 billion during the week.

The country's reserve position with the IMF also increased by $9 million to $3.61 billion, the data showed.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Oct 11, 2019 07:38 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant
Make every wish come true
10% CashBack on Apparel
10% CashBack on Electronics
Swipe & Win iPhone 11 every hour