Forex reserves up by $167.2 mn to $393.28 billion

MUMBAI: The country's foreign exchange reserves increased by $167.2 million to $393.287 billion in the week to December 21, mainly due to a rise in foreign currency assets, according to RBI data.

In the previous week, the reserves had declined by $613.9 million to $393.12 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, rose by $105.2 million to $367.970 billion.

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.

The 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 $37.2 million to $21.224 billion in the reporting week, the data showed.

The special drawing rights with the International Monetary Fund (IMF) increased by $8.9 million to $1.459 billion.

The country's reserve position with the IMF also surged by $15.9 million to $2.633 billion, the apex bank said.

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