The earliest dollar-rupee exchange managed by the central bank in previous week aided the nation’s foreign exchange reserves swell by almost $5.237 billion to approx. $411.905 billion in the last week of March, RBI data displayed on Friday. In the preceding week, the reserves had augmented by approximately $1.029 billion to around $406.667 billion.
Foreign currency assets, a key element of the total reserves, enhanced by approximately $5.248 billion to around $384.053 billion in the week when the data was recorded.
Represented in dollars, foreign currency assets are inclusive of the outcome of appreciation or depreciation of non-US currencies such as pound, the euro and the yen held in reserves.
In a bid to instill liquidity in the system, the Reserve Bank on March 26 had led an auction of around $5 billion dollar-rupee swap that had received bids for almost $16 billion.
Succeeding the enormous comeback, the central bank publicized another round of more than $5 billion swap auction that is supposed to be held on April 23 for a 3-year period.
The forex reserves has touched a life-time high of almost $426.028 billion in the week to April 13, 2018. Ever since then, it had been on a slide as well as is presently down by about $14 billion.
Gold reserves stayed unaffected at around $23.408 billion in the broadcasting week, as per the data taken from the central bank.
The special drawing rights along with the International Monetary Fund (IMF) dropped by almost $3.6 million to approximately $1.456 billion.
The nation's reserve position with the fund also declined by around $7.4 million to about $2.986 billion, the top bank voiced.