Forex Reserves Hit Record At USD 372.73 Billion

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India's foreign exchange reserves rose by $1.594 billion to touch a lifetime high of $372.73 billion in the week to April 28, supported by an increase in foreign currency assets, the Reserve Bank said.

The reserves had risen by $1.250 billion to $371.14 billion in the previous week. Previously, they had touched a high of $371.99 billion in the week to September 30, 2016.

Foreign currency assets (FCAs), a major component of the overall reserves, surged by USD 1.569 billion to USD 349.055 billion in the reporting week, the RBI said.

Forex Reserves Hit Record At USD 372.73 Billion

Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.

Gold reserves remained unchanged at USD 19.869 billion, the central bank said.

The special drawing rights with the International Monetary Fund were up by USD 8.5 million to USD 1.460 billion.

The country's reserve position with the Fund, too, rose by USD 15.8 million to USD 2.347 billion, the RBI said.

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Story first published: Saturday, May 6, 2017, 16:00 [IST]
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