India’s foreign exchange reserves touch new record high of USD 391.33 billion

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Mumbai | Updated: July 28, 2017 6:35:48 PM

India's foreign exchange reserves touched a new record high of USD 391.33 billion after it rose by USD 2.27 billion in the week to July 21, aided by increase in foreign currency assets (FCAs), RBI data showed.

forex india, forex news, forex latest news, foreign exchange india, RBI, RBI data, india forex, foreign exchange news, forex record highFCAs, a key component of overall reserves, surged by USD 2.24 billion to USD 367.15 billion, according to RBI data. (Reuters)

India’s foreign exchange reserves touched a new record high of USD 391.33 billion after it rose by USD 2.27 billion in the week to July 21, aided by increase in foreign currency assets (FCAs), RBI data showed. In the previous week, the reserves had risen by USD 2.68 billion to USD 389.06 billion.

FCAs, a key component of overall reserves, surged by USD 2.24 billion to USD 367.15 billion, according to RBI data. Expressed in US dollar terms, FCAs include effect of appreciation or depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves. Gold reserves remained unchanged at USD 20.35 billion. The special drawing rights with the International Monetary Fund (IMF) went up by USD 12.1 million to USD 1.491 billion. The country’s reserve position with the IMF too increased by USD 19 million to USD 2.341 billion.

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