Forex kitty at life-time high of $381.167 bn

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Mumbai | Published: June 9, 2017 8:47:43 PM

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.

 India forex reserves, Forex kitty, foreign currency, Reserve Bank, RBI, US dollar, Gold reserves, International Monetary Fund, IMF, Foreign currency assets, FCAsForeign 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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