Forex reserves marginally up to $393.734 bn

Saturday,   15-Dec-2018   10:44 AM (IST)

The country's foreign exchange reserves increased by $16.6 million to $393.734 billion in the week to December 7, mainly due to a rise in foreign currency assets, according to the Reserve Bank (RBI) data.In the previous week, the reserves had increased by $932.8 million to $393.718 billion.In the reporting week, foreign currency assets, a major component of the overall reserves, rose by $9.7 million to $368.497 billion, as per the RBI data.Expressed in US dollars, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.Forex reserves had touched a record high of $426.028 billion in the week to April 13, 2018. Since then, the forex kitty has been on a slide and is now down by over $31 billion.Gold reserves were unchanged at $21.150 billion in the reporting week, the data showed.The special drawing rights with the International Monetary Fund (IMF) increased by $2.5 million to $1.457 billion.The country's reserve position with the IMF also increased by $4.4 million to $2.630 billion, the apex bank said.