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Rediff.com  » Business » India's forex tally hits record high at $367.76 bn

India's forex tally hits record high at $367.76 bn

Source: PTI
September 09, 2016 18:33 IST
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The reserves had touched an all-time high of $367.16 billion previously

The country's forex reserves increased by $989.5 million to an all-time high of $367.76 billion on the back of a healthy increase in core currency assets, the Reserve Bank said on Friday.

The total reserves had declined marginally by $392.6 million to $366.77 billion in the previous reporting week.

The reserves had touched an all-time high of $367.16 billion previously.

Foreign currency assets (FCAs), a major component of the overall reserves, swelled by $952.2 million to $342.23 billion for the week ended September 2, RBI said on Friday.

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.

Gold reserves rose $58.1 million to $21.64 billion at the end of the reporting week, it said.

The country's special drawing rights with International Monetary Fund fell $8 million to $1.48 billion while the reserve position in IMF was down by $12.8 million to $2.39 billion, RBI said.

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