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India’s forex reserves touch life-time high of $462.16 billion: RBI

PTI

Mumbai

The country’s foreign exchange reserves rose US$ 943 million to touch a life-time high of US$ 462.16 billion in the week ended January 17, according to the latest data from the RBI.

In the previous week, the reserves had increased by US$ 58 million to US$ 461.21 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 rose by US$ 867 million to US$ 428.45 billion, the data released by the Reserve Bank of India (RBI) on Friday 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.

In the reporting week, gold reserves increased US$ 70 million to US$ 28.56 billion.

The special drawing rights with the International Monetary Fund (IMF) were up by US$ 3 million to US$ 1.45 billion.

The country’s reserve position with the IMF rose by US$ 3 million to US$ 3.70 billion, the data showed.

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