India's Forex Reserves Jump to USD 597.935 Billion
By Rediff Money Desk, MUMBAI Dec 01, 2023 18:14
India's foreign exchange reserves rose by USD 2.538 billion to USD 597.935 billion in the week ended November 24, according to the Reserve Bank of India.
Mumbai, Dec 1 (PTI) India's foreign exchange reserves increased USD 2.538 billion to USD 597.935 billion for the week ended November 24, the Reserve Bank said on Friday.
In the previous reporting week, the overall reserves had jumped USD 5.077 billion to USD 595.397 billion.
For the week ended November 24, the foreign currency assets, a major component of the reserves, increased USD 2.14 billion to USD 528.531 billion, as per the data from the Reserve Bank of India (RBI).
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves were up USD 296 million to USD 46.338 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were up USD 87 million to USD 18.218 billion.
India's reserve position with the IMF rose USD 14 million to USD 4.848 billion in the reporting week, the apex bank data showed.
In October 2021, the country's foreign exchange kitty had reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the reserves to defend the rupee amid pressures caused majorly by global developments since last year.
In the previous reporting week, the overall reserves had jumped USD 5.077 billion to USD 595.397 billion.
For the week ended November 24, the foreign currency assets, a major component of the reserves, increased USD 2.14 billion to USD 528.531 billion, as per the data from the Reserve Bank of India (RBI).
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves were up USD 296 million to USD 46.338 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were up USD 87 million to USD 18.218 billion.
India's reserve position with the IMF rose USD 14 million to USD 4.848 billion in the reporting week, the apex bank data showed.
In October 2021, the country's foreign exchange kitty had reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the reserves to defend the rupee amid pressures caused majorly by global developments since last year.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
Ripley & Co to Modernize Haldia Berth with Rs...
Ripley & Co and Bothra Shipping Services will invest Rs 600 crore to automate and...
India To Set Up Centre For Trade Negotiation...
India's Commerce Ministry plans to establish a centre for negotiation skills to...
SBI 444-Day Term Deposit: Up to 7.25% Annual...
State Bank of India launches a 444-day term deposit offering up to 7.25% annual...