Forex Reserves Reclaim $400 Billion Mark

Forex reserves kitty increases by $1.50 billion as on October 13, 2017, official data shows.

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Forex Reserves Reclaim $400 Billion Mark

The country's gold reserves value was stagnant at $21.24 billion, shows RBI data.

Highlights

  1. Forex reserves kitty increased by $1.50 billion as on October 13
  2. Foreign currency assets augmented by $1.47 billion to $375.27 billion
  3. The country's gold reserves value was stagnant at $21.24 billion
Mumbai: India's foreign exchange (Forex) reserves kitty increased by $1.50 billion as on October 13, 2017, official data showed on Friday.

The Reserve Bank of India's (RBI) weekly statistical supplement released on Friday showed that the overall forex reserves rose to $400.29 billion from $398.79 billion reported for the week ended October 6.

India's Forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI's position with the International Monetary Fund (IMF).

Segment-wise, FCAs -- the largest component of the Forex reserves -- augmented by $1.47 billion to $375.27 billion during the week under review.

Besides the US dollar, FCAs consist of nearly 20-30 per cent of major global currencies. They also include investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial banks.

The country's gold reserves value was stagnant at $21.24 billion, whereas SDRs increased by $9.5 million to $1.50 billion.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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