Posted On : 12 Jan, 2018
Source : PTI
Place : Mumbai
Forex reserves scale new high of USD 411.124 bn

Forex
Continuing rising trends, country's foreign exchange reserves surged by USD 1.758 billion to mount a new record high of USD 411.124 billion in the week to January 5, the Reserve Bank said today.In the previous week, foreign exchange reserves had jumped by USD 4.444 billion to reach a fresh peak of USD 409.366 billion.
The reserves had crossed the USD 400-billion mark for the first time in the week to September 8, 2017 but had since been fluctuating.
The spike in reserves was due to a rise in foreign currency assets, a major component of the overall reserves.
In the reporting week, foreign currency assets rose by USD 2.045 billion to USD 387.149 billion. Expressed in the US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.
After remaining steady for the past few weeks, gold reserves declined marginally by USD 294.4 million to USD 20.421 billion, the central bank said.
The special drawing rights with the International Monetary Fund rose by USD 3.2 million to USD 1.514 billion.
The country's reserve position with the Fund also rose by USD 4.2 million to USD 2.039 billion, the RBI said.
TOP NEWS
- Sensex soars 180 pts as May F&O series opens strong
- Rupee depreciates 8 paise vs US dollar in opening trade
- Gems and jewellery exports dip by 8.67% in FY18
- Gold, silver turn weak on lacklustre demand
- US dollar ends cheaper against rupee
- Sensex zooms 212 pts, Nifty tops 10,600
- Sensex recovers 57 pts ahead of F&O expiry
- Rupee recovers from 14-month low in opening trade, up 11p against US dollar
- Nifty ends below 10,600 ahead of F&O expiry
- Gold snaps 2-day fall, silver also rebounds
- Rupee crashes 52 paise to 14-month low against US dollar
- Sensex sheds 115 pts on weak global cues, profit-booking
- Sensex, Nifty turn negative on weak global cues
- Rupee weakens 21 paise against dollar in early trade
- Dow falls 2.4 per cent on fears of rising interest rates, mixed earnings
- Gold remains weak; silver slumps below Rs 40k
- US dollar ends cheaper against rupee
- Sensex gains for 2nd day, Nifty tops 10,600-level
- Rupee rebounds 8 paise in opening trade
- Rupee falls for 6th day, crumbles 36 paise to 66.48 vs US dollar
- Nifty ends above 10,550, up 20.65 points
- Gold gives up Rs 85 on global cues
- Sensex rises over 100 pts, Nifty above 10,600
- Rupee falls for 6th session, down 4 paise against dollar