Forex Reserves rises to record USD 394.55 billion

Posted by Daily Shipping Times on 04-09-2017        Tweet

MUMBAI: The Country's foreign exchange reserves swelled by USD 1.148 billion to a new lifetime high of USD 394.55 billion for the week ended August 25 on the back of a healthy rise in core currency assets.

The total reserves had declined by a marginal USD 211.1 million to USD 393.401 billion in the previous reporting week. They had touched an all-time peak of USD 393.612 billion in the week before.

The foreign currency assets (FCAs), a major component of the overall reserves, increased by USD 1.142 billion to USD 370.833 billion for the week under review, RBI data showed.

Gold reserves remained unchanged at USD 19.943 billion.

The special drawing rights with the International Monetary Fund (IMF) increased by USD 2.3 million to USD 1.499 billion, the Apex Bank said.

The Country's reserve position with the IMF also rose by USD 3.6 million to USD 2.273 billion, it said.