Forex reserves at record high of $360.25 billion

Foreign currency assets rose by $341.4 million to $336.187 billion in the week under review, an RBI release said

India’s foreign exchange reserves rose by $333.7 million to reach a fresh life-time high of $360.250 billion in the week to April 15, the Reserve Bank of India (RBI) said on Friday.

In the previous week, the reserves had increased by $157.4 million to $359.917 billion. The forex kitty increased on account of rise in foreign currency assets (FCAs), which constitute a major component of the overall reserves.

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• Forex reserves surge to record high of $360 bn

FCAs rose by $341.4 million to $336.187 billion in the week under review, an RBI release said.

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 remained unchanged at $20.115 billion.

The country's special drawing rights with the International Monetary Fund declined by $2.9 million to $1.498 billion and the reserve position dipped by $4.8 million to $ 2.450 billion, RBI said.