FOREX RESERVE SCALES FRESH RECORD HIGH AT $454.49 BILLION


India’s forex reserves continued to grow to a new record high of $454.492 billion on the back of a $1.07 billion accretion for the week ended 13 December, 2019, the RBI said on 20 December, 2019. The forex kitty had risen by $2.342 billion in the previous reporting week to $453.422 billion.

In the reporting week, the rise was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which surged by $1.163 billion to $422.422 billion, according to the data.

During the reporting week, gold reserves decreased by $110 million to $26.968 billion, the RBI data said. The special drawing rights with the International Monetary Fund were up by $2 million to $1.444 billion during the week.

The country’s reserve position with the International Monetary Fund also increased by $14 million to $3.658 billion, the data showed.