Foreign exchange reserves touches $414.78 billion

The rally in the foreign exchange reserves continued for the fourth week in a row, and scaled a new peak at 414.784 billion USD in the week to January 19, helped by rise in foreign currency assets. 

According to the Reserve Bank data issued in Mumbai showed that the reserves rose by 959.1 million USD to touch during the reporting week. In the previous week, the reserves had touched 413.825 billion USD after it rose by



2.7 billion USD.

In the reporting week, foreign currency assets, a major component of the overall reserves, rose by 934.6 million USD to 390.768 billion USD , the RBI said.

Expressed in US dollar terms, 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.