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India's Forex Reserves Hit New All-Time High Of $572.771 Billion

By Staff
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Latest data released by the Reserve Bank of India (RBI) shows the country's foreign exchange (forex) reserves surge $4.277 billion to a lifetime high of $572.771 billion in the week ended 13 November.

The last all-time high was reported in the previous week ended 6 November were reserves rose by a significant $7.779 billion to $568.494 billion.

India's Forex Reserves Hit New All-Time High Of $572.771 Billion
 

The jump in reserves was on account of an increase in foreign current assets (FCAs), a major component of the overall reserves.

FCAs climbed by $5.526 billion to $530.268 billion, showed weekly data from RBI.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in forex reserves.

The gold reserves declined by $1.233 billion in the reporting week to $36.354 billion, as per the data.

The special drawing rights with the International Monetary Fund (IMF) remained unchanged at $1.488 billion.

Read more about: forex forex reserves
Story first published: Saturday, November 21, 2020, 12:19 [IST]
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