Home » News » Business » Forex Reserves Surge by $ 4.525 Billion to Record $ 579.346 Bn: RBI Data
1-MIN READ

Forex Reserves Surge by $ 4.525 Billion to Record $ 579.346 Bn: RBI Data

Representative Image

Representative Image

In the previous week ended November 27, the reserves had declined by USD 469 million to USD 574.821 billion.

The country’s foreign exchange reserves surged by $ 4.525 billion to touch a record high of $ 579.346 billion in the week ended December 4, the RBI data showed. In the previous week ended November 27, the reserves had declined by $ 469 million to $ 574.821 billion.

In the reporting week, the increase in reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves. FCA rose by $ 3.932 billion to $ 537.386 billion, the Reserve Bank of India’s (RBI) weekly data 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 yen held in the foreign exchange reserves.

The gold reserves increased by $ 535 million in the reporting week to $ 35.728 billion in the week ended December 4, the data showed. The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by $ 12 million to $ 1.506 billion. The country’s reserve position with the IMF increased by $ 46 million to $ 4.725 billion.

Read all the Latest News, Breaking News and Coronavirus News here

RELATED NEWS
first published:December 11, 2020, 20:44 IST