Forex reserves soar to record high of $490.04 billion

In the previous week, the reserves had increased by $1.726 billion to $487.04 billion.

Getty Images
Foreign currency assets (FCA), a major component of the overall reserves, increased by $3.035 billion to $451.706 billion in the reporting week, RBI data showed.
Mumbai: The country's foreign exchange reserves swelled by $3.005 billion to a lifetime high of $490.044 billion in the week to May 22, mainly on account of a rise in foreign currency assets, RBI data showed on Friday.

In the previous week, the reserves had increased by $1.726 billion to $487.04 billion.

Foreign currency assets (FCA), a major component of the overall reserves, increased by $3.035 billion to $451.706 billion in the reporting week, Reserve Bank of India (RBI) data showed.


Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

The gold reserves declined by $127 million to $32.779 billion in the reporting week.

The special drawing rights with the International Monetary Fund (IMF) rose by $8 million to $1.432 billion.
ADVERTISEMENT

The country's reserve position with the IMF also rose by $89 million to $4.127 billion during the reporting week, the data showed.
ADVERTISEMENT
READ MORE

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

Related Companies

More from our Partners

Loading next story
Text Size:AAA
Success
This article has been saved

*

+