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India’s FOREX reserves increases to US$ 418.515 billion

Date: 04 May 2019 Tags: External Sector
  • India’s foreign exchange (forex) reserves soared by US $4.368 billion to US $418.515 billion in week to April 26, 2019. It was due to second dollar-rupee swap auction
  • In the swap auction conducted on April 23, 2019, rbi had received bids worth US $18.65 billion against US $5 billion on offer. It accepted just five bids worth US $5 billion.
  • In the reporting week, foreign currency assets (major component of the overall reserves), rose by US $4.387 billion to US $390.421 billion.
  • Gold reserves remained unchanged at US $23.303 billion. The special drawing rights
    (sdr) with International Monetary Fund (IMF) decreased by US $5.9 million to US $1.449 billion. RBI’s reserve position with IMF also declined US $13.6 million to US $3.341 billion.