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Forex reserves hit record high at $457.46 billion

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the forex reserves

twitter-logoPTI | January 3, 2020 | Updated 19:18 IST
Forex reserves hit record high at $457.46 billion

The country's foreign exchange reserves swelled by $2.520 billion to touch a record high of $457.468 billion in the week to December 27, according to RBI data.

In the previous week, the reserves rose to $454.948 billion after increasing by $456 million.

In the reporting week, the increase in reserves was mainly on account of a gain in foreign currency assets, major component of the overall reserves, which surged by $2.203 billion to $424.936 billion, the data released by the Reserve Bank on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the forex reserves.

During the week, gold reserves increased by $260 million to $27.392 billion.

The special drawing rights with the International Monetary Fund dipped by $2 million to $1.441 billion.

The country's reserve position with the Fund, however, increased by $58 million to $3.7 billion, the data showed.

ALSO READ:Rupee vs Dollar: Rupee tanks 24 paise to 71.62 against US dollar on rising crude price

ALSO READ:Lower trade deficit pushes current account deficit to 0.9% of GDP in September quarter: RBI

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