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India’s forex reserves rise by $ 1.105 billion to $ 414.886 billion

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Maintaining an uptrend for the ninth consecutive week, India’s foreign exchange reserves rose by $ 1.105 billion to $ 414.886 billion during the week ended April 12, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had increased by  $ 1.876 billion to $ 413.781 billion during the previous week.
 
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 646.4 million to $ 386.762 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 increased by $ 77.4 million to $ 23.303 billion, while its special drawing rights (SDRs) went up by $ 3.3 million to $ 1.4588 billion.
 
India’s reserve position in the International Monetary Fund (IMF) decreased by $ 378.1 million to $ 3.362 billion, the bulletin added.
 
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(Our News Desk can be contacted at desk@netindian.in)

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