India's forex reserves soar $ 5 billion to $ 291 billion

Tags: News
India's forex reserves surged by a whopping $ 5.04 billion to $ 291.3 billion in the week ended November 29 on account of a robust jump in foreign currency assets (FCAs), the Reserve Bank today said.

This is the fourth consecutive week when the country's reserves have jumped and logged one of the sharpest spikes in recent times.

In the week ago period, the reserves had risen by $ 2.691 billion to $ 286.26 billion.

FCAs, which form a major part of the overall reserves, rose by $ 5.071 billion to $ 263.736 billion for the week under review, the RBI said.

FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in reserves.

During the week under review, the gold reserves remained unchanged at $ 21.227 billion, while the special drawing rights rose by $ 12.2 million to $ 4.432 billion.

India's reserve position with the IMF fell by $ 46.2 million to $ 1.905 billion during the period, the apex bank data showed.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The government might not get the timing right for its massive share sale plan

    A common thread binding the BJP’s first budget with the last three UPA budgets is the aggressive disinvestments targets set to mop up additional rev

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Welfare must be humanitarian not political

We are a very political people. We politicise and corrupt ...

Purnendu Ghosh

How to distinguish a need from a want?

The day when the annual budget is announced is one ...

Shona Adhikari

Decades apart, yet a common ground in fine art

Today’s column is about two artists born many decades apart, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture