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Last Updated Wednesday January 17 2018 11:44 PM IST

Forex reserves shoot up to $401.94 bn, gold rises to $20.703 bn

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Forex reserves The special drawing rights with the International Monetary Fund rose by $4.9 million to $1.502 billion: File photo

Mumbai: India's foreign exchange reserves increased by $1.2 billion to touch $401.942 billion in the week to December 1, according to RBI data.

The surge in reserves was aided by an increase in foreign currency assets, a major component of the overall reserves.

The reserves once again crossed $400 billion mark in the previous week, after they rose by $1.208 billion to $400.741 billion.

The foreign currency reserves increased by $1.151 billion to $377.456 billion for the reporting week, the RBI said Friday.

Expressed in the US dollar terms, 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.

After remaining stable for many months, gold reserves also rose by $36.5 million to $20.703 billion.

The special drawing rights with the International Monetary Fund rose by $4.9 million to $1.502 billion.

The country's reserve position with the Fund also rose by $7.4 million to $2.280 billion, the Reserve Bank of India said.

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