RBI's forex reserves climb to all-time high of $ 338.08 bn

The Reserve Bank of India's (RBI) foreign exchange reserves hit an all-time high of $ 338.08 billion for a consecutive week, show data released on Friday. The rise in reserves was $ 3.89 billion.
 

Foreign currency assets, a key component, rose by $ 3.90 billion to $ 312.20 billion. The reserves have been rising because the central bank has been mopping dollar flows through state-run banks.
 

During the week gold reserves remained unchanged at $ 20.18 billion.
 

For the week under review, the Special Drawing Rights (SDRs) fell by $ 11.4 million to $ 4.07 billion, while India's reserve position with the International Monetary Fund (IMF) was down $ 4.6 million to $ 1.63 billion.