India's forex reserves inch up by $58 mn


Mumbai, Jan 18 (IANS): India's foreign exchange reserves inched up during the week ended January 10. However, the marginal accretion in reserves pushed it to touch a new record high.

The Reserve Bank of India's reserves rose by just $58 million during the week under review, official data showed on Friday.

According to the RBI's weekly statistical supplement, the overall forex reserves increased to $461.21 billion from $461.15 billion reported for the week ended January 3.

 

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 lower by $367 million to $427.58 billion.

The RBI's weekly data showed that the value of the country's gold reserves rose by $435 million to $28.49 billion.

But, the SDR value inched lower by $5 million to $1.44 billion, while the country's reserve position with the IMF decreased by $5 million to $3.69 billion.

  

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Comment on this article

  • Dr.S.Kamath, Mumbai

    Sat, Jan 18 2020

    I just went to an Health care businesses office yesterday in Mumbai
    About 15 Health care paramedics were reveicing New Recruited trainings
    Then talked to the Manager he says they are growing very big now .Every quarter 4 clients being added .Each has installations like 50 to 100 all over India .All MNCs like 3M .Each installation has requirement of about 5 Health care paramedics .Now count how many jobs added
    This is one small company
    Now just see how much jobs are created if all companies are having this way
    Job loss job loss only an illusion created by Opposition

    DisAgree [1] Agree [3] Reply Report Abuse

  • mohan, Mangalore

    Sat, Jan 18 2020

    Nation knows how true Modi news is...... now Modi asking money from RBI.... so just making falls news to empty RBI reserve.....

    DisAgree [1] Agree [1] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sat, Jan 18 2020

    Please do something about Inflation & Unemployment ...

    DisAgree [7] Agree [4] Reply Report Abuse

  • Rolf, Dubai

    Sat, Jan 18 2020

    Pokedda. Above news only for Bakath to fool them .

    DisAgree [11] Agree [3] Reply Report Abuse


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