INSUBCONTINENT EXCLUSIVE:
jumped by $2.68 billion -- one of largest increases in recent months -- to touch $396.084 billion in week to January 4, driven by a rise in
core currency assets and gold holdings, RBI data showed Friday
The overall reserves had increased by $116.4 million to $393.404 billion in previous reporting week
In reporting week, foreign currency assets, a major component of overall reserves, rose by $2.215 billion to $370.292 billion.Expressed in
US dollars, forex assets include effect of appreciation or depreciation of non-US currencies such as euro, pound and yen held in reserves
The reserves had touched a record high of $426.028 billion in week to April 13, 2018
dollars in market to contain rupee volatility
In first five months of current fiscal year, central bank has sold more than $34 billion to arrest fall of rupee, which had sniffed at 74 to
It can be noted that RBI has been buying bullion after almost a decade
During its fiscal year ending June 2018, RBI had added 8.46 metric tonnes of gold
The central bank now holds total 566.23 tonnes of yellow metal.The purchase was made to diversify foreign currency assets, RBI had said in
country's reserve position with IMF also declined marginally by $0.1 million to $2.639 billion, apex bank said.
