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Foreign exchange reserves rise by USD 1.2 billion to USD 400.5 billion

In the reporting week, foreign currency assets, a major component of the overall reserves, increased by USD 1.055 billion to USD 376.154 billion, as per RBI data.  

PTI PTI
New Delhi Published on: September 21, 2018 19:50 IST
Representational Image

Representational Image

India's foreign exchange reserves rose by USD 1.207 billion to USD 400.489 billion in the week to September 14 on account of increase in foreign currency assets, according to RBI data.

In the previous week, forex reserves had declined by USD 819.5 million to USD 399.282 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, increased by USD 1.055 billion to USD 376.154 billion, as per RBI data.

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

Forex reserves had touched a record high of USD 426.028 billion in the week to April 13, 2018, but have been declining since then.

According to forex analysts, the dip in reserves is on account of RBI's intervention in forex reserves to stem fall in the rupee.

Gold reserves rose by USD 144 million to USD 20.378 billion in the reporting week.

The special drawing rights with the International Monetary Fund (IMF) rose by USD 2.8 million to USD 1.478 billion.

The country's reserve position with the IMF also increased by USD 4.9 million to USD 2.478 billion, the apex bank said.

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