Foreign exchange reserves scale new high of $414.784bn

Foreign exchange reserves continued rallying for the fourth week with a new high of USD 414.784 billion USD in the week to January 19, attributable to a rise in foreign currency assets.

As per data issued by the Reserve Bank of India (RBI), reserves saw a spike of USD 959.1 million during the aforementioned time period.

Prior to this, the reserves in the previous week had touched USD 413.825 billion, following a USD 2.7 billion rises.

Meanwhile, the central bank noted that in the reporting week, foreign currency assets rose by USD 934.6 million to USD 390.768 billion.

On a related note, the foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.

-ANI