India’s forex reserves reach record high of $360.25 billion
Mumbai: The country's foreign exchange reserves have risen 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 (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 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.
The country's special drawing rights with the International Monetary Fund declined by $2.9 million to $1.498 billion and the reserve position dipped by $4.8 million to $2.450 billion, the apex bank said.
(With PTI inputs)