Forex reserve hits lifetime high of $424.36 billion

Posted by Daily Shipping Times on 09-04-2018        Tweet

MUMBAI: The Country's foreign exchange reserves hit a life-time high of $424.361 billion after rising by $1.828 billion in the week to March 30, helped by rise in foreign currency assets, the Reserve Bank said. In the previous week, the reserves had increased by $1.197 billion to $422.532 billion. Previously, the reserves had touched a record high of $421.914 billion on February 9. It had crossed the $400-billion mark for the first time in the week to September 8, 2017.

In the reporting week, the foreign currency assets, a major component of the overall reserves, rose by $1.823 billion to $399.118 billion. The special drawing rights with the International Monetary Fund rose by $2.1 million to $1.544 billion. The Country's reserve position with the IMF also increased by $2.8 million to $2.083 billion, the Apex Bank said.