Saturday, April 23, 2016

Forex reserves at record high of $360.25 bn

Mumbai: The country's foreign exchange reserves rose by USD 333.7 million to reach a fresh life-time high of USD 360.250 billion in the week to April 15, the Reserve Bank said today.

In the previous week, the reserves had increased by USD 157.4 million to USD 359.917 billion.

The forex kitty increased on account of rise in foreign currency assets (FCAs), which constitute a major component of the overall reserves.

FCAs rose by USD 341.4 million to USD 336.187 billion in the week under review, an RBI release said.

FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen held in the reserves.

Gold reserves remained unchanged at USD 20.115 billion.

The country's special drawing rights with the International Monetary Fund declined by USD 2.9 million to USD 1.498 billion and the reserve position dipped by USD 4.8 million to USD 2.450 billion, the apex bank said.

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