Forex kitty claws back to $400bn mark

The country’s foreign exchange reserves reclaimed the $400-billion mark again, rising by $1.2 billion to touch $400.7 billion in the week to November 24, according to the weekly data from the RBI. In the previous week, the reserves rose by $240.4 million to $399.5 billion.

The spike in reserves was helped by an increase in foreign currency assets, which are a major component of the overall reserves. The foreign currency reserves increased by $1.2 billion to $376.3 billion for the reporting week.

Expressed in the US dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US currenciessuch as the euro, the pound and the yen held in the reserves.

Gold reserves remained unchanged at the earlier figure of $20.7 billion. 

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