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India's forex reserves touch a life-time high of $363.8 bn

Source: PTI
June 24, 2016 18:26 IST
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Foreign exchange reserves had touched a record of $363.5 billion in the week through June 3, 2016.

Foreign exchange reserves hit a life-time high of $363.8 billion after it rose $592.1 million in the week ended June 17, the Reserve Bank said on Friday.

In the previous week, the reserves had declined $231 million to $363.2 billion.

It had touched a record of $363.5 billion in the week through June 3, 2016.

The surge in reserves was on account of jump in foreign currency assets (FCAs), a major component of the overall reserves.

FCAs rose by $594.3 million to $339.6 billion in the reporting week, RBI data showed.

FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

Gold reserves remained unchanged at $20.3 billion.

The country's special drawing rights with IMF dipped by $1 million to $1.5 billion and the reserve position decreased by $1.2 million to $2.4 billion, the central bank said. 

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