Foreign exchange reserves jump by $1.2 bn to $401.94 bn on increase in foreign currency assets

Foreign exchange reserves once again crossed $400 bn mark in previous week, after they rose $1.208 bn to $400.741 bn

PTI December 08, 2017 19:37:06 IST
Foreign exchange reserves jump by $1.2 bn to $401.94 bn on increase in foreign currency assets

Mumbai: India's foreign exchange reserves increased by $1.2 billion to touch $401.942 billion in the week to 1 December, according to the RBI data. The surge in reserves was aided by an increase in foreign currency assets, a major component of the overall reserves.

The reserves once again crossed $400 billion mark in the previous week, after they rose $1.208 billion to $400.741 billion. The foreign currency reserves increased by $1.151 billion to $377.456 billion for the reporting week, the RBI said on Friday.

Foreign exchange reserves jump by 12 bn to 40194 bn on increase in foreign currency assets

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.

After remaining stable for many months, gold reserves also rose by $36.5 million to $20.703 billion. The special drawing rights with the International Monetary Fund rose by $4.9 million to $1.502 billion. The country's reserve position with the Fund also rose by $7.4 million to $2.280 billion, the Reserve Bank of India said.

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