Real Assets

Dollar Swap Auction Boosts Forex Reserves By $4.7 Bn To $418.5 Bn | Business Standard News

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The forex kitty had touched a life-time high of $426.028 billion in the week to April 13, 2018.: The country's foreign exchange reserves soared by $4.368 billion to $418.515 billion in the week to April 26, helped by the second dollar-rupee swap auction, RBI data showed Friday. In the swap auction conducted on April 23, the Reserve Bank had received bids worth $18.65 billion against $5 billion on offer. It accepted just five bids worth $5 billion. In the reporting week, foreign currency assets, which are a major component of the overall reserves, rose by $4.387 billion to $390.421 billion.

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