The country’s foreign exchange reserves increased by $3.378 billion to touch a life-time high of $545.038 billion in the week ended September 18, the Reserve Bank of India (RBI) data showed.
In the previous week ended September 11, the reserves had declined by $353 million to $541.660 billion.
During the reporting week, the forex kitty rose mainly due to an increase in foreign currency assets (FCA), a major component of the overall reserves.
FCAs swelled by $3.943 billion to $501.464 billion in the reporting week, the central bank data showed. 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 the foreign exchange reserves.
Gold reserves were down by $580 million in the reporting week to $37.440 billion.
– With PTI
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines