Forex reserves hit all-time high at $322.14 bn: RBI

Business

oi-Staff

By Super

Published: Saturday, January 24, 2015, 10:47 [IST]

India's foreign exchange reserves jumped by a massive USD 2.66 billion to touch all-time high of USD 322.135 billion in the week ended January 16, on account of surge in foreign currency assets, Reserve Bank of India (RBI) said today. The reserves had surged by USD 236.4 million to USD 319.475 billion in the previous week.

The previous life-time high for the reserves was USD 320.79 billion, way back in the week to September 2, 2011. The foreign currency assets (FCAs), a major constituent of overall reserves, jumped USD 2.685 billion to USD 297.53 billion in the reporting week, as per the Reserve Bank data. FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen, held in reserves.

The country's gold reserves remained unchanged at USD 19.377 billion. Special drawing rights (SDR) decreased by USD 19.3 million to USD 4.109 billion, while India's reserve position with the IMF dipped by USD 5.2 million to USD 1.118 billion during the week, the data showed.

PTI