India’s Forex Reserves Climb To New Lifetime High

In the week ended 25 October, India's forex reserves increased by $1.832 billion to a new lifetime high of $442.583 billion, as per data released by RBI on Friday. The increase was aided by a rise in core currency assets and the value of gold.

The country's overall kitty had expanded by $1.04 billion to $440.751 billion in the previous reporting week.

For the week under review, foreign currency assets, which are the biggest part of the reserves, rose by $1.642 billion to $410.453 billion, the data showed.

The foreign currency assets, that are expressed in US dollar terms, include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the foreign exchange reserves.

The value of the gold reserves was up by $191 million to $27.052 billion for the week.

The special drawing rights with the International Monetary Fund rose by $ 1 million to $1.441 billion.

The country's reserve position with the Fund fell by $2 million to $3.637 billion, the data showed.