Forex Reserves Touch Fresh High Of $462.16 Billion

The country's foreign exchange reserves rose $943 million to touch a life-time high of $462.16 billion in the week ended Jan. 17, according to the latest data from the Reserve Bank of India.

In the previous week, the reserves had increased by $58 million to $461.21 billion.

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 rose by $867 million to $428.45 billion, the data released by the RBI on Friday showed.

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

In the reporting week, gold reserves increased $70 million to $28.56 billion.

The special drawing rights with the International Monetary Fund were up by $3 million to $1.45 billion.

The country's reserve position with the IMF rose by $3 million to $3.70 billion, the data showed.