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Forex reserves up by $944 mn to $399.21 bn.


Date: 02-03-2019
Subject: Forex reserves up by $944 mn to $399.21 bn
The country's foreign exchange reserves increased by $944.7 million to $399.217 billion in the week to February 22, due to increase in foreign currency assets, according to the RBI data.

In the previous week, the reserves had increased by $150.2 million to $398.272 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, rose by $928.6 million to $371.99 billion.

Expressed in US dollars, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

The reserves had touched a record high of $426.028 billion in the week to April 13, 2018. Since then, the forex kitty has been on a slide and is now down by over $31 billion.

Gold reserves remained unchanged at $22.764 billion in the reporting week, the data showed.

The special drawing rights with the International Monetary Fund (IMF) rose by $5.3 million to $1.460 billion.

The country's reserve position with the IMF increased by $10.8 million to $2.993 billion, the apex bank said.

Source: moneycontrol.com

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