India’s forex reserves increase by $441 million to a new lifetime high of $448.2 billion

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India‘s forex reserves rose by $441 million to a fresh lifetime high of $448.249 billion in the week to November 15 on an increase in core currency assets, RBI data showed on Friday.

The overall foreign exchange reserves, which have been on an upward trend for many weeks now, had swelled by $1.71 billion to $447.808 billion in the previous reporting week.

The foreign currency assets, a major component of the reserves, increased by $643 million to $416.472 billion in the week ended November 15, as per the Reserve Bank data.

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Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the foreign exchange reserves.

During the week, gold reserves decreased by $200 million to $26.709 billion, it said.

The special drawing rights with the International Monetary Fund was down by $5 million to $1.435 billion.

The country’s reserve position with the Fund increased by $3 million to $3.633 billion, the apex bank data showed.

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Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

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