Forex reserves surge to all time high of $2.539 bn

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Mumbai | Published: March 25, 2016 7:43:14 PM

The country's foreign exchange reserves surged by $2.539 billion to touch an all-time high of $355.947 billion in the week ended March 18, on account of rise in foreign currency assets...

FPIsThe reserves had touched a high of USD 355.46 billion in the week ended June 19 last year. (Reuters)

The country’s foreign exchange reserves surged by $2.539 billion to touch an all-time high of $355.947 billion in the week ended March 18, on account of rise in foreign currency assets (FCAs), the Reserve Bank said today.

The reserves had touched a high of USD 355.46 billion in the week ended June 19 last year.

In the previous week, the reserves had increased by USD 2.543 billion to USD 353.407 billion.

FCAs, a major component of overall reserves, increased by USD 2.505 billion to USD 332.504 billion in the reporting week, RBI said in a release here.

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 marginally rose by USD 0.6 million to USD 19.325 billion in the week.

India’s special drawing rights with the International Monetary Fund (IMF) increased by USD 12.1 million to USD 1.498 billion, while the country’s reserve position with the Fund was up by USD 21.1 million to USD 2.618 billion, RBI said.

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