India’s forex reserves surge $3.68 bn to touch record high of $461.16 bn

PTI, Jan 11, 2020, 9:15 AM IST

Mumbai: The country’s foreign exchange reserves touched a record high of $461.157 billion, after it surged by $3.689 billion in the week to January 3, according to the RBI data.

In the previous week, the reserves had risen by $2.52 billion to $454.948 billion.

In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by $3.013 billion to $427.949 billion, the data released by the Reserve Bank of India on Friday 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 forex reserves.

In the reporting week, gold reserves rose by $666 million to $28.058 billion.

The special drawing rights with the International Monetary Fund were up by $7 million to $1.447 billion.

The country’s reserve position with the IMF increased by $3 million to $3.703 billion, the data showed.