Saturday, April 23, 2016

Forex reserves at record high of $360.25 billion

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

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

The forex kitty increased on account of rise in foreign currency assets[2] (FCAs), which constitute a major component of the overall reserves.

FCAs rose by $341.4 million to $336.187 billion in the week under review, an RBI[3] 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 $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 $4.8 million to $2.450 billion, the apex bank said.

[1]

References

  1. ^ Reserve Bank of India (economictimes.indiatimes.com)
  2. ^ foreign currency assets (economictimes.indiatimes.com)
  3. ^ RBI (economictimes.indiatimes.com)

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