Indian rupee and U.S. dollar banknotes are arranged (Photographer: Dhiraj Singh/Bloomberg)

Forex Reserves At Lifetime High Of $426.082 Billion

The country’s foreign exchange reserves expanded by $1.217 billion to touch a life-time high of $426.082 billion in the week to April 13, helped by rise in foreign currency assets, the Reserve Bank of India said.

In the previous week, the reserves had increased by $ 503.6 million to reach $424.864 billion. It had crossed the $400-billion mark for the first time in the week to Sep. 8, 2017, but has since been fluctuating.

In the reporting week, the foreign currency assets, a major component of the overall reserves, increased by $1.202 billion to $ 400.978 billion.

Expressed in the U.S. dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-U.S. currencies such as euro, pound and Japanese yen held in the reserves.

Gold reserves remained unchanged at $ 21.484 billion in the reporting week, the central bank said. The special drawing rights with the International Monetary Fund increased by $ 6.6 million to $ 1.540 billion.

The country’s reserve position with the IMF also rose by $ 8.9 million to $ 2.079 billion, RBI said.