| Date: |
16-05-2015 |
| Subject: |
Forex Reserves Hit Life-Time High of $352 Billion |
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Mumbai: India's foreign exchange reserves increased by $262.4 million to touch a new life-time high of $352.131 billion in the week to May 8 on account of a rise in foreign currency assets, the Reserve Bank of India (RBI) said.
In the previous week, the forex reserves had risen by a whopping $7.26 billion to $351.87 billion.
Foreign currency assets, a major component of the overall reserves, were up $262.7 million at $327.415 billion for the reporting week, data from the RBI showed on Friday.
Foreign currency assets, 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 stable at $19.335 billion, the apex bank said.
Special drawing rights with the International Monetary Fund were down $0.2 million at $4.062 billion, while the country's reserve position with the fund also declined by 0.1 million to $1.316 billion, the data showed.
Source : profit.ndtv.com
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