Forex reserves swell by $2.520 bn to touch record high $457.46 bn in December after gain in foreign currency assets: RBI

  • In the previous week, the forex reserves rose to $454.948 billion after increasing by $456 million

  • During the week, gold reserves increased by $260 million to $27.392 billion.

  • The country's reserve position with the Fund, however, increased by $58 million to $3.7 billion

Mumbai: The country's foreign exchange reserves swelled by $2.520 billion to touch a record high of $457.468 billion in the week to 27 December, according to RBI data.

In the previous week, the forex reserves rose to $454.948 billion after increasing by $456 million.

 Forex reserves swell by Representational image. News 18..520 bn to touch record high 7.46 bn in December after gain in foreign currency assets: RBI

Representational image. News 18.

In the reporting week, the increase in reserves was mainly on account of a gain in foreign currency assets, major component of the overall reserves, which surged by $2.203 billion to $424.936 billion, the data released by the Reserve Bank of India (RBI) on Friday showed.

Expressed in 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 forex reserves.

During the week, gold reserves increased by $260 million to $27.392 billion.

The special drawing rights with the International Monetary Fund (IMF) dipped by $2 million to $1.441 billion.

The country's reserve position with the IMF, however, increased by $58 million to $3.7 billion, the data showed.

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Updated Date: Jan 03, 2020 19:03:21 IST