1. Forex reserves hit record high of $361.601 billion

Forex reserves hit record high of $361.601 billion

The forex reserves increased on account of rise in foreign currency assets (FCAs), which is a major component of the overall reserves.

By: | Mumbai | Published: April 29, 2016 6:23 PM
Forex reserves FCAs increased by .350 billion to 7.537 billion in the week under review, an RBI release said. (Reuters photo)

Continuing their rising trend, the country’s foreign exchange reserves increased by $1.350 billion to touch a record high of $361.601 billion in the week to April 22, Reserve Bank said today.

In the previous week, the reserves had risen by $333.7 million to $360.250 billion.

The reserves increased on account of rise in foreign currency assets (FCAs), which is a major component of the overall reserves.

FCAs increased by $1.350 billion to $337.537 billion in the week under review, an RBI release said.

FCAs, 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 remained unchanged at $20.115 billion.

The country’s special drawing rights with the International Monetary Fund increased by $0.1 million to $1.498 billion and the reserve position was unchanged at $2.450 billion, the apex bank said.

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