Foreign Exchange Reserves Reach Life-Time High Of $466.69 Billion
The country's foreign exchange reserves reached a life-time high of $466.693 billion after a massive $4.535 billion spike in the week to Jan. 24, according to the Reserve Bank of India data.
In the previous week, the reserves had increased by $943 million to $462.16 billion.
In the reporting week, the increase in reserves was mainly on account of a rise in foreign currency assets, a major component of the overall reserves, which rose by $4.470 billion to $432.919 billion, the RBI data released 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 by $153 million to $28.715 billion.
The special drawing rights with the International Monetary Fund declined by $3 million to $1.45 billion. The country's reserve position with the IMF also declined by $85 million to $3.615 billion, the data showed.