India’s forex reserves rise by $ 1.758 billion to new high of $ 411.125 billion

Maintaining an uptrend for the fourth  consecutive week, India’s foreign exchange reserves rose by $ 1.758 billion to a new high of $ 411.124 billion during the week ended January 5, the Reserve Bank of India (RBI) said here today.
The country’s forex reserves had soared by a whopping $ 4.445 billion to $ 409.366 billion during the previous week.
In its weekly statistical supplement today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 2.045 billion to $ 387.149 billion during the week.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
According to the bulletin, the country’s gold reserves went down by $ 294.4 million to $ 20.421 billion, while its special drawing rights (SDRs) went up by $ 3.2 million to $ 1.514 billion.
India’s reserve position in the International Monetary Fund (IMF) rose by $ 4.2 million to $ 2.039 billion during the week, the bulletin added.
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