Gold Silver Reports (GSR) – In the previous week, the reserves had surged by $1.828 billion to $424.366 billion. It had crossed the $400-billion mark for the first time in the week to September 8, 2017, but has since been fluctuating. In the reporting week, the foreign currency assets, a major component of the overall reserves, rose by $657.7 million to $399.776 billion.
India Forex Reserves
India’s foreign exchange reserves rose by $503.6 million to touch a life-time high of $424.864 billion in the week to April 6, aided by increase in foreign currency assets, the Reserve Bank said.
Expressed in U.S. dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-U.S. currencies such as the euro, the pound and the yen held in the reserves.
After remaining stable for past few weeks, gold reserves decreased by $130.7 million to $21.484 billion in the reporting week, the central bank said.
The special drawing rights with the International Monetary Fund declined by $10 million to $1.534 billion.
The country’s reserve position with the IMF also decreased by $13.4 million to $2.070 billion, the banking regulator said. – Neal Bhai Reports (NBR)
