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India's Forex reserves rises by over $150 mn

  •   Sat, Feb 23 2019 07:45:15 AM

Mumbai, Feb 23 (IANS): India's foreign exchange (forex) reserves increased by $150.2 million during the week ended February 15, official data showed on Friday.

According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves rose to $398.27 billion from $398.12 billion reported for the week ended February 8.

India's forex reserves comprise of Foreign Currency Assets (FCAs), gold reserves, Special Drawing Rights (SDRs) and India's position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $88.9 million to $371.07 billion.

Besides the US dollar, FCAs consist of 20-30 per cent of other major global currencies.

The RBI's weekly data showed that the value of the country's gold reserves rose by $78.2 million at $22.76 billion.

The SDR value inched down by $7.8 million to $1.45 billion, while the country's reserve position with the IMF declined by $9.1 million to $2.98 billion.

 
  

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Comment on this article

  • sanchil, kundapur

    Sat, Feb 23 2019

    Its because of Rahul comedy show

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  • Nawaz, Udupi/ Kuwait

    Sat, Feb 23 2019

    Anyone remember how many years RBI took just to count the money returned to banking system during demonetization. Now it has been releasing figures of Forex Reserves in Weekly basis it seems.

    Wah Modiji Wah. Har cheez aapke control me hai. Par Aam Admi unemployment se parshan hai. Kisaan Sadak pe hai.

    DisAgree [1] Agree Reply Report Abuse

  • Dinshyam, Deralakatte

    Sat, Feb 23 2019

    Only modi government can do it. Earlier days use to keep gold on mortgage and use to obtain money.

    DisAgree [5] Agree [2] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sat, Feb 23 2019

    We hope these are not Election Jumla's ...

    DisAgree [1] Agree [1] Reply Report Abuse

  • Nawaz, Udupi/ Kuwait

    Sat, Feb 23 2019

    @Dinshyam,

    Wah Bhakth hi wah. The report does not mention about the period during which the said Forex reserves increased.
    When the Crude is in such a low level for so long and Value of Rupee against Dollar in nose- diving, nobody should be surprised for increase in Foreign Exchange.

    Wah Modiji Wah. Wah Modi ke Bhakth Gan wah. You forgot to say " Master stroke by Modiji". You still have time. You will get at least 25 likes for sure.

    DisAgree [2] Agree [2] Reply Report Abuse

  • Nawaz, Udupi/ Kuwait

    Sat, Feb 23 2019

    Correction: The report says that the percentage change is for a week.

    DisAgree [2] Agree [2] Reply Report Abuse

  • Jennifer, Mangalore

    Sat, Feb 23 2019

    Dinshyam,

    To know the impact and source of inward Forex, you must step out of Deralakatte. If you are thinking the in-flow is because of Modi's foreign trips, please go to some school and study a bit more. Sinking rate of Rupee against US$. and remittance of money is the major source. Please not the following :

    Quote
    Lured by the sharp slump in rupee against the dollar, Indians living overseas may boost remittances to a record, helping bolster the nation’s efforts to support Asia’s worst-performing major currency. The country is expected to receive remittances of about $76 billion in 2018, 10% more than in the previous year
    Unquote

    Modi's only contribution is 1.2 Crores that he got as Peace Price - nothing else. Rather, he has been a liability as compared to his predecessor with number of foreign trips done in five years. The other source of Forex in-flow is our exports which never took off as per Modi's dream from his 'Make in India' scheme.

    DisAgree [2] Agree [2] Reply Report Abuse


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