Forex reserve rises by $932.8 million to $393.72 billion - Economic Times

Mumbai: The country's foreign exchange reserves increased by $932.8 million to $393.718 billion in the week to November 30, mainly due to a rise in foreign currency assets, according to RBI data.

In the previous week, the reserves had dropped by $795 million to $392.785 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, jumped by $787.9 million to $368.487 billion, as per the RBI data.

Expressed in US dollars, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

Forex reserves had touched a record high of $426.028 billion in the week to April 13, 2018. Since then, the forex kitty has been on a slide and is now down by over $31 billion.

Gold reserves rose by $151.8 million to $21.150 billion in the reporting week, the data showed.

The special drawing rights with the International Monetary Fund (IMF) dipped by $2.5 million to $1.454 billion.

The country's reserve position with the IMF also decline by $4.4 million to $2.625 billion, the apex bank said.

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