Forex Reserves Climb $456 Million To Record $455 Billion
A collection of U.S. one dollar bills are displayed. (Photographer: Chris Ratcliffe/Bloomberg)  

Forex Reserves Climb $456 Million To Record $455 Billion

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The country's foreign exchange reserves increased by $456 million to a fresh lifetime high of $454.948 billion in the week to Dec. 20, according to Reserve Bank of India data.

In the previous week, the reserves had swelled by $1.070 billion to $454.492 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 surged by $311 million to $422.732 billion, weekly data released by 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 the yen held in the forex reserves.

During the reporting week, gold reserves increased by $164 million to $27.132 billion.

The special drawing rights with the International Monetary Fund dipped $1 million to $1.443 billion.

The country's reserve position with the Fund also declined by $17 million to $3.642 billion, the data showed.

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