Home Business Forex reserves rise by $58 million to record high of $461.21 billion

Forex reserves rise by $58 million to record high of $461.21 billion

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MUMBAI: The country foreign exchange reserves rose by $58 million to reach a life-time high of $461.21 billion in the week to January 10, according to the RBI data.

In the previous week, the reserves had increased by $3.689 billion to $461.15 billion.

In the reporting week, the reserves rose despite a decline in foreign currency assets (FCA), which is a major component of the overall reserves.

FCA decreased by $367 million to $427.582 billion, the RBI data released on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the forex reserves.

In the reporting week, gold reserves rose by $435 million to $28.492 billion.

The special drawing rights with the International Monetary Fund were down by $5 million to $1.442 billion.

The country’s reserve position with the IMF also declined by $5 million to $3.697 billion, the data showed.



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