Forex Reserves Rise To Fresh Record Of $476.092 Billion
India’s foreign exchange reserves swelled by $3.091 billion to a new record of $476.092 billion in the week to Feb. 14, mainly due to a rise in foreign currency assets, according to the RBI data.
In the previous week, the foreign exchange reserves had increased by $1.701 billion to $473 billion.
Foreign currency assets, a major component of the overall reserves, rose by $2.763 billion to $441.949 billion in the reporting week.
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.
Gold reserves rose by $344 million to $29.123 billion.
The special drawing rights with the International Monetary Fund were down by $6 million to $1.430 billion.
The country's reserve position with the IMF also declined by $9 million to $3.590 billion, the data showed.