Forex reserves stood at $424.361 billion for the week ended March 30, 2018

07 Apr 2018 Evaluate

According to the latest report from the Reserve Bank of India (RBI), the country’s forex reserves increased by $1,828.6 million to $424.361 billion during the week ended March 30, 2018. The increase in valuation of Foreign Currency Assets in the IMF pulled the forex kitty higher during the reporting week.

Valuation of foreign currency assets increased by $1,823.7 million in the week and stood at $399.118 billion, while the value of gold in the reserves remained unchanged at $21.614 billion during the week.

SDRs’ (Special Drawing Rights) valuations increased by $2.1 million and stood at $1.544 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 March 30, 2018 increased by $2.8 million and stood at $2.083 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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