Moneycontrol Be a Pro
Get App
you are here: HomeNewsBusiness
Last Updated : Nov 08, 2019 09:43 PM IST | Source: PTI

Forex reserves soar $3.5 billion to new lifetime high of $446.09 billion

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

Representative Image
Representative Image

The country's foreign exchange reserves rose by $3.515 billion to touch a fresh lifetime high of $446.098 billion in the week to November 1, helped by increase in foreign currency assets, RBI data showed on Friday. In the previous week, the reserves had increased by $1.832 billion to $442.583 billion.

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

FCA increased by $3.201 billion to $413.654 billion in the week ended November 1, 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 by $301 million to $27.353 billion.

The special drawing rights with the International Monetary Fund increased by $2 million to $1.443 billion during the week.

The country's reserve position with the Fund also increased by $10 million to $3.648 billion, the data showed.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Nov 8, 2019 09:29 pm
Loading...
Sections
Follow us on
Available On