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Forex Reserves Rise by $5.8 Billion to Touch Lifetime High of $ 551.5 Billion, Shows RBI Data

FILE PHOTO: Bundles of banknotes of U.S. Dollar are pictured at a foreign money trade store in Ciudad Juarez, Mexico, January 15, 2018. REUTERS/Jose Luis Gonzalez/File Photo

During the reporting week, the rise in foreign exchange kitty was on account of rise in overseas foreign money belongings (FCA), a serious part of the general reserves.

  • PTI
  • Last Updated: October 16, 2020, 17:56 IST
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The nation’s overseas trade reserves surged by USD 5.867 billion to the touch a report excessive of USD 551.505 billion within the week to October 9, in keeping with the RBI knowledge. In the earlier week ended October 2, 2020, the reserves had elevated by USD 3.618 billion to USD 545.638 billion.

During the reporting week, the rise in foreign exchange kitty was on account of rise in overseas foreign money belongings (FCA), a serious part of the general reserves. FCA rose by USD 5.737 billion to USD 508.783 billion. Expressed in greenback phrases, the overseas foreign money belongings embrace the impact of appreciation or depreciation of non-US models just like the euro, pound and yen held within the overseas trade reserves.

The gold reserves have been up by USD 113 million within the reporting week to USD 36.598 billion, the RBI knowledge confirmed. The particular drawing rights with the International Monetary Fund (IMF) rose by USD Four million to USD 1.480 billion through the week. The nation’s reserve place with the IMF was additionally up by USD 13 million to USD 4.644 billion through the reporting week, the information confirmed.

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