India's forex reserves rise to over $457 bn


Mumbai, Jan 3 (IANS): India's foreign exchange reserves continued to rise during the week ended December 27 to touch a new record high.

The Reserve Bank of India's reserves rose by $2.52 billion during the week under review, official data showed on Friday.

According to the RBI's weekly statistical supplement, the overall forex reserves increased to $457.46 billion from $454.94 billion reported for the week ended December 20.

India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $2.20 billion to $424.93 billion.

Similarly, the RBI's weekly data showed that the value of the country's gold reserves rose by $260 million to $27.39 billion.

However, the SDR value inched lower by $2 million to $1.44 billion, while the country's reserve position with the IMF increased by $58 million to $3.70 billion.

  

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Comment on this article

  • Jossey Saldanha, Mumbai

    Sat, Jan 04 2020

    Blame it all on Inflation ...

    DisAgree [4] Agree [2] Reply Report Abuse

  • Krishna, Udupi

    Sat, Jan 04 2020

    u believed report any way

    and forex reserves rise is good for country...

    DisAgree Agree [1] Reply Report Abuse

  • Sunil Dsouza, Mangalore

    Sat, Jan 04 2020

    Indicates 2 things , either we are getting more forex inflow or outflow has reduced due to low business turnout. Seeing the current trend, its clear that forex inflow has reduced so lower business turnout appears to be the reason. In other words dollar utilisation has reduced

    DisAgree [1] Agree Reply Report Abuse


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