India's foreign exchange reserves scale document excessive of $454.49 billion
India’s foreign exchange reserves scale document excessive of $454.49 billion (Representational Picture)  |  Photo Credit score: Thinkstock
Mumbai: India’s foreign exchange reserves continued on the northward trajectory, rising to a brand new document of USD 454.492 billion on the again of a USD 1.07 billion accretion for the week ended December 13, the RBI stated on Friday. The foreign exchange kitty had risen by USD 2.342 billion within the earlier reporting week to USD 453.422 billion.
Within the present reporting week, the rise was primarily on account of a rise in overseas foreign money property, a significant element of the general reserves, which surged by USD 1.163 billion to USD 422.422 billion, based on the info.
Expressed in greenback phrases, the overseas foreign money property embrace the impact of appreciation or depreciation of non-US items just like the euro, pound and the yen held in foreign exchange reserves.
Throughout the reporting week, gold reserves decreased by USD 110 million to USD 26.968 billion, the RBI knowledge stated. The particular drawing rights with the Worldwide Financial Fund had been up by USD 2 million to USD 1.444 billion through the week. The nation’s reserve place with the Worldwide Financial Fund additionally elevated by USD 14 million to USD 3.658 billion, the info confirmed.