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Forex kitty nears $440 bn; touches fresh-life high


Date: 19-10-2019
Subject: Forex kitty nears $440 bn; touches fresh-life high
The forex kitty continued to climb north, swelling by $1.879 billion to a new life-time high of $439.712 billion, in the week to October 11, the Reserve Bank said on October 18.

The forex reserves had increased by a higher $4.24 billion to a new high of $437.83 billion in the previous reporting week.

For the week under review, the foreign currency assets, which are the biggest part of the reserves, increased by $2.269 billion to $407.88 billion, the RBI said.

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.

The value of the gold reserves dipped by $399 million to $26.778 billion for the week, the RBI said.

The special drawing rights with the International Monetary Fund rose $2 million to $1.431 billion during the week.

The country's reserve position with the Fund also increased by $7 million to $3.623 billion, the data showed.

Source: moneycontrol.com

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