Forex reserves shy of record high at USD 371.14 bn

Foreign exchange reserves were just short of the life-time high after rising by USD 1.250 billion to USD 371.14 billion in the week to April 21, helped by increase in foreign currency assets, the Reserve Bank said.

The reserves had touched a life-time high of USD 371.99 billion in the week to September 30, 2016.

In the previous week, reserves had risen by USD 889.4 million to USD 369.887 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, surged by USD 1.237 billion to USD 347.485 billion in the reporting week, the RBI said.

Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.

Gold reserves remained unchanged at USD 19.869 billion, the apex bank said.

The special drawing rights with the International Monetary Fund were up by USD 5 million to USD 1.451 billion.

The country's reserve position with the Fund too rose by USD 7.7 million to USD 2.331 billion, RBI said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)