Business & Economy

India’s forex reserves rise by $ 116.4 million to $ 393.404 billion

IANS

Mumbai, January 4, 2019

India’s foreign exchange reserves rose by $ 116.4 million to $ 393.404 billion during the week ended December 28, the Reserve Bank of India (RBI) said here today.
The country’s forex reserves had gone up by $ 167.2 million to $ 393.288 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 $ 106.3 million to $ 368.077 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 remained unchanged at $ 21.224 billion, while its special drawing rights (SDR) went up by $ 3.6 million to $ 1.462 billion.
India’s reserve position in the International Monetary Fund (IMF) increased by $ 6.5 million to $ 2.64 billion, the bulletin added.
NNN

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story?
and help us to serve you better.
NetIndian
www.netindian.in