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Forex reserves touch record high at $372.73 billion

Previously, forex reserves had touched a high of $371.99 billion in the week to September 30, 2016.

By: PTI | Mumbai | May 5, 2017 7:49:54 pm

The foreign exchange reserves rose by $1.594 billion to touch a life-time high of Rs 372.73 billion in the week to April 28, supported by increase in the foreign currency assets, the Reserve Bank said. The reserves had gone up 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 $1.569 billion to $349.055 billion in the reporting week, the RBI said. 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 $19.869 billion, the central bank said. The special drawing rights with the International Monetary Fund were up by $8.5 million to $1.460 billion. The country’s reserve position with the Fund, too, rose by $15.8 million to $2.347 billion, the RBI said.

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