​​​
  1. Forex reserves touch record high of $389.059 billion

Forex reserves touch record high of $389.059 billion

The country's foreign exchange reserves rose by USD 2.681 billion to touch a new life-time high of USD 389.059 billion in the week to July 14, helped by increase in foreign currency assets (FCAs), RBI data showed.

By: | Mumbai | Published: July 21, 2017 11:02 PM
Forex, foreign exchange reserves, foreign currency assets, RBI,  Reserve Bank of India, FCA, International Monetary Fund, IMF FCAs, a major component of overall reserves, surged by USD 2.677 billion to USD 364.908 billion, according to the RBI data. (Image Source: Reuters)

The country’s foreign exchange reserves rose by $2.681 billion to touch a new life-time high of $389.059 billion in the week to July 14, helped by increase in foreign currency assets (FCAs), RBI data showed. In the previous week, the reserves had marginally declined by $161.9 million to USD 386.377 billion. FCAs, a major component of overall reserves, surged by $2.677 billion to $364.908 billion, according to the RBI data. 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 remained unchanged at $20.348 billion. The special drawing rights with the International Monetary Fund (IMF) rose by $1.8 million to $1.479 billion. The country’s reserve position with the IMF too increased by $2.7 million to $2.322 billion.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top