India's forex kitty swells to new life-time high of USD 440.751

Steadily increasing, India’s forex kitty surged northward up to USD 1.039 billion by October 18. This is a new life-time high of USD 440.751 for the forex kitty in the country. Apart from this, the forex reserves had risen by USD 1.879 billion to a new record high of USD 439.712 billion in the previous reporting week. Before this, on October 1, the foreign exchange reserves touched a record high of USD 434.6 billion.  

Foreign currency assets 

According to the Reserve Bank of India, the biggest part of the reserve, the foreign currency assets, increased by USD 931 million to USD 408.881 billion in the last week. The foreign currency assets, held in the foreign exchange reserves, include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen. However, the foreign currency assets are expressed in the US dollar terms.  

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Gold Reserves and IMF's special drawing rights

RBI also said that the value for gold reserves increased by USD 82 million to USD 26.861 billion for the week. In the last week, the gold reserves increased by USD 102 million to USD 26.945 billion. Additionally, during the week, special drawing rights with the International Monetary Fund rose USD 9 million to USD 1.440 billion. However, earlier, the special drawing rights for the IMP dipped by USD 7 million to USD 1.428 billion. The country's reserve position with the Fund also increased by USD 17 million to USD 3.640 billion, the data showed. As opposed to this, earlier, the country’s reserve position with the Fund also declined by USD 17 million to USD 3.606 billion.

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