Friday, April 29, 2016

Forex reserves at record high of $361.601 bn

Forex reserves at record high of $361.601 bn
Continuing their rising trend, the country's foreign exchange reserves increased by USD 1.350 billion to touch a record high of USD 361.601 billion in the week to April 22, Reserve Bank said today.

In the previous week, the reserves had risen by USD 333.7 million to USD 360.250 billion.

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

FCAs increased by USD 1.350 billion to USD 337.537 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 increased by USD 0.1 million to USD 1.498 billion and the reserve position was unchanged at USD 2.450 billion, the apex bank said.



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