foreign-exchange reserves: Forex reserves up by $24.34 billion to $424.55 billion in H2 FY18
The ratio of short-term debt to foreign exchange reserves, which was 23.8 per cent at end March 2017, remained at the same level at end December 2017, the report said. India's foreign exchange reserves increased by $24.34 billion to $424.55 billion as of end March 2018 from $400.21 billion as of end September 2017, Reserve Bank said.During September 2017 and March 2018, reserves decreased to $399.23 billion as of end October 2017, increased to $401.94 billion as at end November 2017, $409.07 billion as of end December 2017, $422.37 billion as of end January 2018 and $420.96 billion as of end February 2018. "At the end of December 2017, the import cover decreased to 10.8 months from 11.3 months at end March 2017," RBI said in its half yearly report on management of foreign exchange reserves released today.The foreign exchange reserves, when reckoned on balance of payment (BoP) basis (excluding valuation effects), increased by $30.3 billion during April-December 2017 as compared with an increase of $14.2 billion during April-December 2016.The foreign exchange reserves in nominal terms (including valuation effects) increased by $39.1 billion during April-December 2017 as against the depletion of $1.3 billion during the same period of the preceding year.The ratio of short-term debt to foreign exchange reserves, which was 23.8 per cent at end March 2017, remained at the same level at end December 2017, the report said.RBI holds 560.32 tonnes of gold, of which 268.01 tonnes are held overseas in safe custody with the Bank of England and the Bank for International Settlements (BIS).Gold as a share of the total foreign exchange reserves in value terms (USD) stood at about 5 per cent as of end March 2018.Indias net International Investment Position (IIP), as of end December 2017 was negative at $429.7 billion, implying that the sum of all external liabilities is more than that of the external assets.IIP is a summary record of the stock of the countrys external financial assets and liabilities.Forex reserve dips by $2.25 billion to $407.81 billion
as informed in In the previous week, reserves had decreased by $3.04 billion to $410.07 billion. India's foreign exchange reserves declined by $2.25 billion to $407.81 billion in the week to June 22 on account of fall in foreign currency assets, Reserve Bank of India ( RBI ) data showed.In the previous week, reserves had decreased by $3.04 billion to $410.07 billion.Forex reserves had touched a record high of $426.028 billion in the week to April 13, 2018. Reserves had crossed the $400-billion mark for the first time in the week to September 8, 2017, but have since been fluctuating.In the reporting week, foreign currency assets, a major component of the overall reserves, dipped by $2.833 billion to $382.499 billion, data showed.Expressed in US dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro , pound and yen held in the reserves.Gold reserves rose by $102.9 million to $21.331 billion in the reporting week.The special drawing rights with the International Monetary Fund (IMF) rose by $0.5 million to $1.49 billion.The country's reserve position with the International Monetary Fund (IMF) also increased by $475.6 million to $2.493 billion, the apex bank said.collected by :John Locas
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