India's forex reserves touch record high at $372.73 bn

Posted by Daily Shipping Times on 08-05-2017        Tweet

MUMBAI: The foreign exchange reserves rose by $1.594 billion to touch a life-time high of Rs 372.73 billion in the week to April 28, supported by increase in the foreign currency assets, the Reserve Bank said. The reserves had gone up by $1.250 billion to $371.14 billion in the previous week.

Previously, they had touched a high of $371.99 billion in the week to September 30, 2016. Foreign currency assets (FCAs), a major component of the overall reserves, surged by $1.569 billion to $349.055 billion in the reporting week, the 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.