Forex reserve hits record high of $426.42 bn, surges by $4.2 bn in week to 21 June: RBI data

India's foreign exchange reserve touched a life-time high of $426.42 billion after it surged by $4.215 billion in the week to 21 June, RBI data showed

Press Trust of India June 28, 2019 18:21:21 IST
Forex reserve hits record high of $426.42 bn, surges by $4.2 bn in week to 21 June: RBI data
  • Forex reserves had scaled a record high of $426.028 billion in the week to 13 April, 2018

  • In the previous reporting week, the reserves had declined by $1.358 billion to $422.2 billion

  • The rise in reserves was on account of an increase in foreign currency asset, which is a major component of the overall foreign exchange reserves

Mumbai: India's foreign exchange reserve touched a life-time high of $426.42 billion after it surged by $4.215 billion in the week to 21 June, RBI data showed.

Forex reserves had scaled a record high of $426.028 billion in the week to 13 April, 2018.

In the previous reporting week, the reserves had declined by $1.358 billion to $422.2 billion.

Forex reserve hits record high of 42642 bn surges by 42 bn in week to 21 June RBI data

Representational image. News 18.

The rise in reserves was on account of an increase in foreign currency asset, which is a major component of the overall foreign exchange reserves.

In the reporting week, foreign currency assets increased by $4.202 billion to $398.649 billion.

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

Gold reserves remained unchanged at $22.958 billion, according to RBI data.

Special drawing rights with the International Monetary Fund (IMF) increased by $4.2 million to $1.453 billion.

The country's reserve position with the fund also rose by $9.6 million to $3.354 billion.

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