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Forex reserves hit fresh life-time high of USD 352.13 billion

Gold reserves remained stable at $19.335 billion, for the week ended May 8, 2015.

twitter-logo PTI   Mumbai     Last Updated: May 16, 2015  | 15:44 IST
Forex reserves hit fresh life-time high of $352.131 bn
The foreign currency assets, a major component of the overall reserves, were up $262.7 million to $327.415 billion for the reporting week. (Photo: Associated Press)

India's foreign exchange reserves increased by $262.4 million to touch a new life-time high of $352.13 billion in the week to May 8 on account of rise in foreign currency assets.

In the previous week, the forex reserves had risen by a whopping $7.26 billion to $351.87 billion.

According to Reserve Bank of India (RBI) data released on Friday, the foreign currency assets, a major component of the overall reserves, were up $262.7 million to $327.415 billion for the reporting week.

Foreign currency assets, 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 stable at $19.335 billion, the apex bank said.

The special drawing rights with the International Monetary Fund were down $0.2 million to $4.062 billion, while the country's reserve position with the fund also declined by 0.1 million to $1.316 billion, the data showed.

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