1. Forex kitty at life-time high of $381.167 bn

Forex kitty at life-time high of $381.167 bn

India's forex reserves surged by $2.404 billion to reach life-time high of $381.167 billion in the week to June 2 on account of rise in foreign currency assets, the Reserve Bank said today.

By: | Mumbai | Published: June 9, 2017 8:47 PM
 India forex reserves, Forex kitty, foreign currency, Reserve Bank, RBI, US dollar,  Gold reserves, International Monetary Fund,  IMF, Foreign currency assets, FCAs Foreign currency assets (FCAs), a major component of overall reserves, increased by.748 billion to 7.290 billion in the reporting week, RBI said.(Reuters)

India’s forex reserves surged by $2.404 billion to reach life-time high of $381.167 billion in the week to June 2 on account of rise in foreign currency assets, the Reserve Bank said today. In the previous week, the reserves had declined by $547 million to $378.763 billion. Foreign currency assets (FCAs), a major component of overall reserves, increased by$2.748 billion to $357.290 billion in the reporting week, RBI said. Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves. Gold reserves however declined by $343.2 million to $20.095 billion, the central bank said. The special drawing rights (SDR) with the International Monetary Fund dipped by $0.2 million to $1.472 billion. The country’s reserve position with the IMF too declined by $0.4 million to $2.309 billion.

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