This Article is From Apr 29, 2016

Forex Reserves At Record High Of $361.60 Billion

Forex Reserves At Record High Of $361.60 Billion
Mumbai: Continuing their rising trend, the country's foreign exchange reserves increased by $1.350 billion to touch a record high of $361.601 billion in the week to April 22, Reserve Bank said on Friday.

In the previous week, the reserves had risen by $333.7 million to $360.250 billion.

The reserves increased on account of rise in foreign currency assets (FCAs), which is a major component of the overall reserves.

FCAs increased by $1.350 billion to $337.537 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. 

Gold reserves remained unchanged at $20.115 billion. 

The country's special drawing rights with the International Monetary Fund increased by $0.1 million to $1.498 billion and the reserve position was unchanged at $2.450 billion, the apex bank said.

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