News Business Forex reserves rise for 2nd week, jump by $1.46 bn to $283.6 bn

Forex reserves rise for 2nd week, jump by $1.46 bn to $283.6 bn

Mumbai: Forex reserves jumped for the second consecutive week by adding $1.459 billion in the week to November 15, taking the overall reserves to a healthy $283.57 billion, on account higher foreign currency assets.In the

forex reserves rise for 2nd week jump by 1.46 bn to 283.6 bn forex reserves rise for 2nd week jump by 1.46 bn to 283.6 bn
Mumbai: Forex reserves jumped for the second consecutive week by adding $1.459 billion in the week to November 15, taking the overall reserves to a healthy $283.57 billion, on account higher foreign currency assets.





In the week-ago period, reserves rose by $819.5 million to $282.113 billion.

According to the Reserve Bank of India data, foreign currency assets, which form the largest chunk of the reserves, rose $1.465 billion to $255.90 billion in the week under review.

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

Gold reserves stood unchanged at $21.227 billion in the week ended on November 15, reflecting the tepid movement in prices.

The special drawing rights fell by $3.9 million to $4.411 billion.

The country's reserve position with the International Monetary Fund also fell by $2 million to $2.029 billion in the week under review, the central bank's data showed.

Latest Business News