Forex reserves soar $2.3 bn to touch all-time high of $453 bn: RBI data

The country's foreign exchange reserves surged by $ 2.342 billion to touch a life-time high of $ 453.422 billion in the week to December 6, according to the RBI data.

In the previous week, the reserves had increased by $ 2.484 billion to $ 451.08 billion, the weekly data released by the Reserve Bank on Friday showed.

In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which surged by $ 1.891 billion to $ 421.258 billion, according to the data.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in forex reserves.

 

During the reporting week, gold reserves increased by $ 430 million to $ 27.078 billion.

The special drawing rights with the International Monetary Fund was by $ 5 million to $ 1.441 billion during the week.

The country's reserve position with the International Monetary Fund also increased by $ 15 million to $ 3.644 billion, the data showed.