Forex reserves rise to $421.72 bn

Posted by Daily Shipping Times on 26-02-2018        Tweet

MUMBAI: India’s foreign exchange reserves rose by $1.96 billion to $421.72 billion on February 16, compared to the previous week. Foreign currency assets (FCAs), which form a key component of reserves, rose by $1.925 billion from the previous week to $396.572 billion. Gold reserves remained stable at $21.514 billion. Special drawing rights (SDR) from the International Monetary Fund rose by $13 million from the previous week to $1.546 billion.

SDR is an international reserve asset created by the IMF and allocated to its members in proportion of their quota at the IMF. The Reserve Position in the IMF rose by $21.7 million to $2.087 billion.