Forex reserves jump by $1.2 bn to $401.94 bn

Posted by Daily Shipping Times on 11-12-2017        Tweet

MUMBAI: India’s foreign exchange reserves increased by USD 1.2 billion to touch USD 401.942 billion in the week to December 1, according to the RBI data.

The reserves once again crossed USD 400 billion mark in the previous week, after they rose by USD 1.208 billion to USD 400.741 billion. The foreign currency reserves increased by USD 1.151 billion to USD 377.456 billion for the reporting week, the RBI said.

After remaining stable for many months, gold reserves also rose by USD 36.5 million to USD 20.703 billion. The special drawing rights with the International Monetary Fund rose by USD 4.9 million to USD 1.502 billion. The Country’s reserve position with the Fund also rose by USD 7.4 million to USD 2.280 billion, the Reserve Bank of India said.