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Forex reserves swell by $1.87 billion to $413.8 billion: RBI data

Press Trust of India/Mumbai 12 Apr 19 | 07:00 PM

The country's foreign exchange reserves rose by $ 1.876 billion to $ 413.781 billion in the week to April 5, aided by a rise in foreign currency assets, Reserve Bank data showed Friday.

In the previous week, the reserves had surged by $ 5.237 billion to $ 411.905 billion, helped by the maiden dollar-rupee swap conducted by the RBI.

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In the reporting week, foreign currency assets -- a major component of the overall reserves -- rose by $ 2.062 billion to $ 386.116 billion.

ALSO READ: Forex kitty continues to swell for the third week, crosses $406.7 billion

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

The forex kitty had touched a life-time high of $ 426.028 billion in the week to April 13, 2018. Since then, it has been on a slide and is now down by over $ 13 billion.

Gold reserves, which remained unchanged in the previous week, declined by $ 182.6 million to $ 23.225 billion, the data showed.

The special drawing rights with the International Monetary Fund dipped by $ 1.2 million to $ 1.455 billion.

The country's reserve position with the Fund too slipped by $ 2.5 million to $ 2.983 billion, the apex bank said.

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