Forex reserves stood at $398.761 billion for the week ended October 27, 2017

04 Nov 2017 Evaluate

According to the latest report from the Reserve Bank of India (RBI), the country’s forex reserves decreased by $1,159.7 million to $398.761 billion during the week ended October 27, 2017. The decrease in valuation of Foreign Currency Assets in the IMF pulled the forex kitty lower during the reporting week.

Valuation of foreign currency assets decreased by $1,135.7 million in the week and stood at $373.772 billion, while the value of gold in the reserves remained unchanged to $21.240 billion during the week.

SDRs’ (Special Drawing Rights) valuations decreased by $9.6 million and stood at $1.490 billion in the week. This valuation is inclusive of SDR 3,082.5 million (equivalent to $4,883 million) allocated under general allocation and SDR 214.6 million (equivalent to $340 million) allocated under special allocation by International Monetary Fund (IMF) done on August 28, 2009 and September 9, 2009, respectively.

The country’s reserve position in the IMF during the week ended October 27, 2017 decreased by $14.4 million and stood at $2.258 billion. Reserve position in the IMF, i.e., Reserve Tranche Position (RTP) which was shown as a memo item from May 23, 2003 to March 26, 2004 has been included in the reserves from the week ended April 2, 2004 in keeping with the international best practice.


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