Business & Economy

India’s forex reserves rise by $ 1.267 billion to $ 397.351 billion

NetIndian News Network

Mumbai, January 18, 2019

India’s foreign exchange reserves rose by $ 1.267 billion to $ 397.351 billion during the week ended January 11, the Reserve Bank of India (RBI) said here today.
The country’s forex reserves had soared by $ 2.68 billion to $ 396.084 billion during the previous week.
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had increased by $ 1.087 billion to $ 371.379 billion during the week.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
According to the bulletin, the country’s gold reserves went up by $ 154.4 million to $ 21.844 billion, while its special drawing rights (SDRs) increased by $ 9.0 million to $ 1.4716 billion.
India’s reserve position in the International Monetary Fund (IMF) went up by $ 16.3 million to $ 2.656 billion, the bulletin added.
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