News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff.com  » Business » India's forex kitty jumps $10.47 bn to $636.09 bn

India's forex kitty jumps $10.47 bn to $636.09 bn

Source: PTI
March 15, 2024 21:51 IST
Get Rediff News in your Inbox:

India's forex kitty jumped by $10.47 billion to $636.09 billion for the week ended March 8, the Reserve Bank said on Friday.

Dollar

Photograph: Dado Ruvic/Reuters

In the previous reporting week, the overall reserves had risen by $6.55 billion to $625.63 billion.

In October 2021, the country's forex kitty had reached an all-time high of $645 billion.

 

The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.

For the week ended March 8, the foreign currency assets, a major component of the reserves, increased by $8.12 billion to $562.35 billion, the Reserve Bank of India (RBI) said.

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

Gold reserves increased by $2.3 billion to $50.72 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by $31 million to $18.21 billion, the apex bank said.

India's reserve position with the International Monetary Fund (IMF) was also up by $19 million to $4.82 billion in the reporting week, the central bank data showed.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!