Forex Reserves Rise By $58 Million To Record High Of $461.21 Billion
The country foreign exchange reserves rose by $58 million to reach a life-time high of $461.21 billion in the week to Jan. 10, according to the Reserve Bank of India data.
In the previous week, the reserves had increased by $3.689 billion to $461.15 billion.
In the reporting week, the reserves rose despite a decline in foreign currency assets, which is a major component of the overall reserves.
FCA decreased by $367 million to $427.582 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 forex reserves.
In the reporting week, gold reserves rose by $435 million to $28.492 billion.
The special drawing rights with the International Monetary Fund were down by $5 million to $1.442 billion.
The country's reserve position with the IMF also declined by $5 million to $3.697 billion, the data showed.