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Forex reserves up by $1.36 billion to $420.05 billion; gold reserves remain unchanged

Gold reserves remained unchanged at $23.021 billion; in the previous week, the reserves had increased by $171.9 million to $418.687 billion

twitter-logo PTI   New Delhi     Last Updated: May 17, 2019  | 19:31 IST
Forex reserves up by $1.36 billion to $420.05 billion; gold reserves remain unchanged

The country's foreign exchange reserves rose by USD 1.368 billion to reach USD 420.055 billion in the week to May 10 on account of a rise in foreign currency assets, RBI data showed Friday. In the previous week, the reserves had increased by USD 171.9 million to USD 418.687 billion.

In the reporting week, foreign currency assets, which are a major component of the overall reserves, swelled by USD 1.358 billion to USD 392.227 billion. Expressed in dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US units like the euro, pound and the yen held in the reserves.

Gold reserves remained unchanged at USD 23.021 billion, according to the data. The special drawing rights with the International Monetary Fund rose by USD 3 million to USD 1.454 billion. The country's reserve position with the Fund also increased by USD 7 million to USD 3.351 billion, the according to the RBI data. The forex kitty had touched a life-time high of USD 426.028 billion in the week to April 13, 2018.

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