At $ 361.601bn, forex reserves at new high
02/05/2016
Marking a fresh high, the country’s foreign exchange reserves soared in the week ended April 22, 2016 driven by a rise in the value of foreign currency assets, lifting the outlook for Asia’s third biggest economy.
India’s forex reserves climbed by USD 1.350 billion to a record high of USD 361.601 billion in the week ended April 22, 2016, the Reserve Bank of India (RBI) said.
In the prior week, foreign exchange reserves had climbed by USD 333.7 million to USD 360.25 billion.
Foreign currency assets, which are expressed in dollar terms and include the effect of appreciation or depreciation of non US currencies such as euro, pound and yen held in reserves, rose by USD 1.350 billion to USD 337.537 billion in the week ended April 22, 2016 from the previous week, the RBI added. Foreign currency assets are the biggest component of the overall forex reserves.
India’s special drawing rights with the IMF inched higher by USD 0.1 million to USD 1.498 billion in the week ended April 22, 2016 while the country’s reserve position was unchanged at USD 2.450 billion.
India's gold reserves stood unchanged at USD 20.115 billion in the week ended April 22, 2016 from the previous week, data showed. A robust forex reserves kitty will help the Indian economy overcome any possible volatility in foreign capital flows amidst heightened global economic uncertainty on account of weak commodity prices and worries over a China slowdown.
02/05/2016
India’s forex reserves climbed by USD 1.350 billion to a record high of USD 361.601 billion in the week ended April 22, 2016, the Reserve Bank of India (RBI) said.
In the prior week, foreign exchange reserves had climbed by USD 333.7 million to USD 360.25 billion.
Foreign currency assets, which are expressed in dollar terms and include the effect of appreciation or depreciation of non US currencies such as euro, pound and yen held in reserves, rose by USD 1.350 billion to USD 337.537 billion in the week ended April 22, 2016 from the previous week, the RBI added. Foreign currency assets are the biggest component of the overall forex reserves.
India’s special drawing rights with the IMF inched higher by USD 0.1 million to USD 1.498 billion in the week ended April 22, 2016 while the country’s reserve position was unchanged at USD 2.450 billion.
India's gold reserves stood unchanged at USD 20.115 billion in the week ended April 22, 2016 from the previous week, data showed. A robust forex reserves kitty will help the Indian economy overcome any possible volatility in foreign capital flows amidst heightened global economic uncertainty on account of weak commodity prices and worries over a China slowdown.
