This Article is From Aug 13, 2016

Forex Reserves At Record High Of $365.74 Billion

Forex Reserves At Record High Of $365.74 Billion
Mumbai: Continuing the rising trend, forex reserves increased by $253.6 million to touch record high of $365.749 billion in the week to August 5, the Reserve Bank said on Friday.

The reserves increased despite decline in foreign currency assets (FCAs), a major component of the overall reserves. 

In the previous week, the reserves had jumped by a healthy $2.81 billion to $365.49 billion.

FCAs declined by $765.4 million to $340.278 billion. FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of non-US currencies such as euro, pound and yen held in the reserves.

After remaining steady for many weeks, gold reserves shot up by $1.008 billion to $21.584 billion 20.58 billion. 

The country's special drawing rights with International Monetary Fund rose by $4.1 million to $1.488 billion, while the reserve position soared by $6.7 million to $2.397 billion.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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