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Forex reserves up by USD 3.378 bn to record USD 545.038 bn

In the previous week ended September 11, the reserves had declined by USD 353 million to USD 541.660 billion      During the reporting week, the forex kitty rose mainly due to an increase in foreign currency assets (FCA), a major component of the overall reserves.

PTI | Mumbai | Updated: 25-09-2020 18:17 IST | Created: 25-09-2020 18:17 IST
Forex reserves up by USD 3.378 bn to record USD 545.038 bn

The country's foreign exchange reserves increased by USD 3.378 billion to touch a lifetime high of USD 545.038 billion in the week ended September 18, RBI data showed.    In the previous week ended September 11, the reserves had declined by USD 353 million to USD 541.660 billion      During the reporting week, the forex kitty rose mainly due to an increase in foreign currency assets (FCA), a major component of the overall reserves. FCAs swelled by USD 3.943 billion to USD 501.464 billion in the reporting week, the central bank data showed.     Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves were down by USD 580 million in the reporting week to USD 37.440 billion.   The special drawing rights with the International Monetary Fund (IMF) were up by USD 1 million to USD 1.483 billion.    The country's reserve position with the IMF rose by USD 14 million to USD 4.651 billion during the reporting week, as per the data.


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