FE kitty up by $1.46 b

FE kitty up by $1.46 b

The foreign exchange reserves grew for the second consecutive week, rising by US$1.46 billion to US$294.60 billion on the back of a rise in the core foreign currency assets.

Total reserves had risen by US$213 million to US$293.14 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, rose by US$1.45 billion to US$260.21 billion for the week ended April 20, the Reserve Bank said.

The gold reserves were unchanged at US$27.02 billion.

For the week under review, Special Drawing Rights increased by US$5.2 million to US$4.457 billion, while the country’s reserve position in the IMF also increased by a marginal US$3.4 million to US$2.904 billion, the apex bank data showed.

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