| Date: |
16-04-2016 |
| Subject: |
Life time peak: Forex reserves at record high, just under $360 billion |
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MUMBAI: The foreign exchange reserves touched a new life-time high of $359.917 billion after they surged by $157.4 million in the week ended April 8, helped by rise in foreign currency assets, the Reserve Bank of India said today.
In the previous week, reserves had increased by a whopping $4.2 billion to touch $359.759 billion.
Foreign currency assets which constitute a major component of the overall reserves rose by $159.3 million to $335.845 billion in the week under review, RBI said in a release.
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, however, remained unchanged at $20.115 billion.
The massive rise in the forex kitty comes even as the country's special drawing rights with the International Monetary Fund declined by $0.9 million to $1.501 billion and the reserve position dipped by $1 million to $2.455 billion.
Source : economictimes.indiatimes.com
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