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The Reserve Bank of India’s foreign exchange reserves hit an all-time high of $343 billion for the week ending April 3, show data released on Friday.
The rise in reserves was $1.63 billion. This is the ninth time this year foreign exchange reserves touched an all-time high. Foreign currency assets rose $2.40 billion to $318.64 billion.
The reserves have been rising because the central bank has been mopping dollar flows through state-run banks.
During the week, gold reserves fell $799 million to $19.04 billion.
For the week under review, the special drawing rights rose to $4.02 billion, while India’s reserve position with the International Monetary Fund was up $5.4 million to $1.30 billion.
In the meanwhile, RBI also released data on its foreign currency operations in February according to which net purchases stood at $ 7.84 billion compared with $ 12.14 billion the previous month. The outstanding net forward purchases was at $ 5.83 billion compared with $ 5.58 billion the previous month.
