The forex reserves continued its upward march and increased by USD 1.267 billion to USD 397.351 billion in the week to January 11, aided by a rise in core currency assets and value of gold, the RBI said Friday.
The overall reserve had swelled by USD 2.68 billion to USD 396.084 billion in the previous reporting week.
In the reporting week, foreign currency assets — a major component of the overall reserves — rose by USD 1.087 billion to USD 371.379 billion, the Reserve Bank said.
Expressed in US dollars, forex assets include the effect of appreciation/depreciation of non-US currencies such as the euro, pound and the yen held in the reserves.
The reserves had touched a record high of USD 426.028 billion in the week to April 13, 2018. Since then, it has been fluctuating and mostly sliding.
The value of the gold reserves increased by USD 154.4 million to USD 21.844 billion in the reporting week, the apex bank said.
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