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IndiaForex reserves jump $2.82 bn to $606.86 bn

Forex reserves jump $2.82 bn to $606.86 bn

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agencies

's forex reserves jumped $2.816 billion to $606.86 billion in the week ended December 8, the Reserve Bank of India (RBI) said on Friday.

In the previous reporting week, the overall reserves had risen $6.11 billion to $604.04 billion.

It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.

The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.

For the week ended December 8, the foreign currency assets — a major component of the reserves — increased by $3.09 billion to $536.7 billion, the data said.

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

Gold reserves were down $199 million to $47.13 billion during the week, the RBI said.

The Special Drawing Rights were down $63 million to $18.188 billion, the apex bank said.

India's reserve position with the IMF was down $11 million to $4.842 billion in the reporting week, the apex bank data showed.

 

 

 

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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