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In the swap auction conducted on April 23, the Reserve Bank had received bids worth $ 18.65 billion against $ 5 billion on offer.
Illustration: Dominic Xavier/Rediff.com
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 on 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 previous week, the forex reserves had declined by $ 739.2 million to $ 414.147 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.
Expressed in US dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US currencies like the euro, pound and yen held in the reserves.
The forex kitty had touched a life-time high of $ 426.028 billion in the week to April 13, 2018.
Gold reserves remained unchanged at $ 23.303 billion, according to the data.
The special drawing rights with the International Monetary Fund were down by $ 5.9 million to $ 1.449 billion.
The country's reserve position with the Fund also declined $ 13.6 million to $ 3.341 billion, the according to the Reserve Bank.