India's Forex Reserves Touch Record High At $372.73 Bn

MUMBAI: Foreign exchange reserves rose $1.594 billion to touch a life-time high of $372.73 billion in the week to April 28, supported by increase in foreign currency assets (FCAs), the Reserve Bank of India (RBI) said.


The reserves had gone up $1.250 billion to $371.14 billion in the previous week.

They had touched a high of $371.99 billion in the week to September 30, 2016.


FCAs, a major component of the overall reserves, surged $1.569 billion to $349.055 billion in the reporting week, the RBI said.


Expressed in dollar terms, FCAs include the effects of appreciation or depreciation of non-US currencies, such as the euro, pound, and the yen, held in the reserves.


Gold reserves remained unchanged at $19.869 billion, RBI said.


The special drawing rights with the International Monetary Fund (IMF) were up $8.5 million to $1.460 billion.


The country's reserve position with the IMF, too, rose $15.8 million to $2.347 billion, RBI said.

Read Also:

Mutual Fund Investments In Stocks Hit 5-Month High Of 10,000 Cr In April

India To Grow 8 Pct Next Fiscal As GST Benefits Kick In: Das

Source: PTI