Forex reserves surge to record high of $359.759 billion
India's foreign exchange reserves surged by a whopping $4.2 billion to touch a record high of $359.759 billion in the week ended April 1, mainly on account of rise in foreign currency assets, the Reserve Bank said on Friday.
- Apr 9, 2016,
- Updated Apr 9, 2016 10:44 AM IST
India's foreign exchange reserves surged by a whopping $4.2 billion to touch a record high of $359.759 billion in the week ended April 1, mainly on account of rise in foreign currency assets, the Reserve Bank said on Friday.
Reserves had marginally declined by $387.5 million to $355.559 billion in the week. In the week ended March 18, the reserves had increased by $2.539 billion to touch a life-time high of $355.947 billion.
Foreign currency assets (FCAs), a major component of overall reserves, increased by $3.539 billion to $335.686 billion in the week under review, RBI said in a release.
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 increased by $789.6 million to $20.115 billion.
India's special drawing rights with the International Monetary Fund (IMF) increased by $13.9 million to $1.501 billion, while the country's reserve position declined by $143.3 million to $2.456 billion.
India's foreign exchange reserves surged by a whopping $4.2 billion to touch a record high of $359.759 billion in the week ended April 1, mainly on account of rise in foreign currency assets, the Reserve Bank said on Friday.
Reserves had marginally declined by $387.5 million to $355.559 billion in the week. In the week ended March 18, the reserves had increased by $2.539 billion to touch a life-time high of $355.947 billion.
Foreign currency assets (FCAs), a major component of overall reserves, increased by $3.539 billion to $335.686 billion in the week under review, RBI said in a release.
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 increased by $789.6 million to $20.115 billion.
India's special drawing rights with the International Monetary Fund (IMF) increased by $13.9 million to $1.501 billion, while the country's reserve position declined by $143.3 million to $2.456 billion.