Forex Reserves Rises To Record $545.038 Billion
U.S. one-hundred dollar banknotes are arranged for a photograph in Hong Kong, China. (Photographer: Paul Yeung/Bloomberg)

Forex Reserves Rises To Record $545.038 Billion

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The country's foreign exchange reserves increased by $3.378 billion to touch a lifetime high of $545.038 billion in the week ended Sept. 18, Reserve Bank of India data showed.

In the previous week ended Sept. 11, the reserves had declined by $353 million to $541.660 billion.

During the reporting week, the forex kitty rose mainly due to an increase in foreign currency assets, a major component of the overall reserves.

Foreign currency assets swelled by $3.943 billion to $501.464 billion in the reporting week, the central bank data 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.

Also read: RBI-Bond Markets Face-Off On Cost Of Government Debt

Gold reserves were down by $580 million in the reporting week to $37.440 billion.

The special drawing rights with the International Monetary Fund were up by $1 million to $1.483 billion.

The country's reserve position with the IMF rose by $14 million to $4.651 billion during the reporting week, as per the data.

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