Forex reserves rises to life-time high of $379.310 billion

Posted by Daily Shipping Times on 29-05-2017        Tweet

MUMBAI: The Country's forex reserves rose by a whopping $4.036 billion to life-time high of $379.310 billion in the week ended May 19, helped by a surge in the foreign currency assets, the Reserve Bank said. Last week, the reserves had declined by $443.6 million to $375.27 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, increased by $3.996 billion to $355.097 billion in the reporting week, RBI said.

Expressed in US dollar terms, FCAs include the effects of appreciation / depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves. Gold reserves remained stable at $20.438 billion.

The special drawing rights with the International Monetary Fund increased by $15 million to $1.469 billion.