Forex reserves soar to lifetime high of $490 billion, shows RBI data

The country's foreign exchange reserves swelled by $3.005 billion to a lifetime high of $490.044 billion in the week to May 22, mainly on account of a rise in foreign currency assets, RBI data showed on Friday.
 

In the previous week, the reserves had increased by $1.726 billion to $487.04 billion.

Foreign currency assets (FCA), a major component of the overall reserves, increased by $3.035 billion to $451.706 billion in the reporting week, Reserve Bank of India (RBI) data showed.  Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US