Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Market / Stock-market-news/  India’s forex reserves at record high of $424.864 billion
BackBack

India’s forex reserves at record high of $424.864 billion

India's forex reserves rose by $503.6 million to touch a record high of $424.864 billion in the week to 6 April, the Reserve Bank of India said

India’s forex reserves had crossed the $400-billion mark for the first time in the week to 8 September 2017, but has since been fluctuating. Photo: ReutersPremium
India’s forex reserves had crossed the $400-billion mark for the first time in the week to 8 September 2017, but has since been fluctuating. Photo: Reuters

Mumbai: India’s forex reserves rose by $503.6 million to touch a record high of $424.864 billion in the week to 6 April, aided by increase in foreign currency assets, the Reserve Bank of India (RBI) said on Friday.

In the previous week, the foreign exchange reserves had surged by $1.828 billion to $424.366 billion. It had crossed the $400-billion mark for the first time in the week to 8 September 2017, but has since been fluctuating.

In the reporting week, the foreign currency assets, a major component of the overall forex reserves, rose by $657.7 million to $399.776 billion.

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

After remaining stable for past few weeks, gold reserves decreased by $130.7 million to $21.484 billion in the reporting week, RBI said.

The special drawing rights with the International Monetary Fund (IMF) declined by $10 million to $1.534 billion. The country’s reserve position with the IMF also decreased by $13.4 million to $2.070 billion, the central bank said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 13 Apr 2018, 09:42 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App