National

Forex reserves rise to new lifetime high

The foreign currency assets, a major component of the reserves, increased by $643 million to $416.472 billion in the week ended November 15./ Photo for representation

The foreign currency assets, a major component of the reserves, increased by $643 million to $416.472 billion in the week ended November 15./ Photo for representation   | Photo Credit: Reuters

more-in

The overall foreign exchange reserves have been on an upward trend for many weeks now.

India’s forex reserves rose by $441 million to a fresh lifetime high of $448.249 billion in the week to November 15, on an increase in core currency assets, the Reserve Bank of India (RBI) data showed on Friday.

The overall foreign exchange reserves, which have been on an upward trend for many weeks now, had swelled by $1.71 billion to $447.808 billion in the previous reporting week.

The foreign currency assets, a major component of the reserves, increased by $643 million to $416.472 billion in the week ended November 15, as per the Reserve Bank data.

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 decreased by $200 million to $26.709 billion, it said.

The special drawing rights with the International Monetary Fund was down by $5 million to $1.435 billion.

Why you should pay for quality journalism - Click to know more

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Dec 10, 2019 7:54:03 AM | https://www.thehindu.com/news/national/forex-reserves-rise-to-new-lifetime-high/article30052509.ece

Next Story