 | « Back to article | Print this article |
India's foreign exchange reserves surged by $5.84 billion to touch a fresh life-time high of $ 327.88 billion in the week to January 30, the Reserve Bank on Friday.
In the previous reporting week, the reserves had declined marginally by $ 97.9 million to $ 322.037 billion.
The previous record high was $ 322.13 billion recorded for the week ended January 16.
The increase in reserves was on account of higher foreign currency assets (FCAs), which forms a major constituent of overall reserves.
In the reporting week, FCA rose by $5.814 billion to $303.325 billion, Reserve Bank data showed. FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as euro, pound and yen held in reserves.
The Reserve Bank of India (RBI) earlier this week had said there was accretion to the country's foreign exchange reserves to the tune of $6.8 billion in third quarter of FY15.
The country's gold reserves remained unchanged at $19.377 billion.
Special drawing rights increased by $24.6 million to $4.072 billion, while India's reserve position with the IMF was up by $6.8 million to $1.108 billion during the week, the data showed.