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India's forex reserves at new life-time high of $ 430.57 bn

August 16, 2019 23:28 IST

India's reserve position with IMF rose by $ 7 million to $ 3.636 billion.

Illustration: Dominic Xavier/Rediff.com

India's foreign exchange reserves surged by $ 1.620 billion to $ 430.572 billion in the week to August 9 on rise in foreign currency assets, according to the latest RBI data released on Friday.

 

In the previous reporting week ended on August 2, the reserves had declined by $ 697.2 million to $ 428.952 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, increased by $ 15.2 million to $ 398.739 billion, the apex bank said on Friday.

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

The country's gold reserves surged by $ 1.591 billion to $ 26.754 billion, according to data.

Special drawing rights with the International Monetary Fund were up by $ 6.7 million to $ 1.441 billion.

The country's reserve position with the fund rose by $ 7 million to $ 3.636 billion.

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