 "Forex reserves at life-time high of $379 billion")
The country's forex reserves rose by a whopping $4.036 billion to life-time high of $379.310 billion in the week ended May 19, helped by a surge in the foreign currency assets, the Reserve Bank said.
Last week, the reserves had declined by $443.6 million to $375.27 billion.
Foreign currency assets (FCAs), a major component of the overall reserves, increased by $3.996 billion to $355.097 billion in the reporting week, RBI said.
Gold reserves remained stable at $20.438 billion.
The special drawing rights with the International Monetary Fund increased by $15 million to $1.469 billion.
The country's reserve position with the IMF, too, rose by $25.2 million to $2.305 billion, the RBI said.
Last week, the reserves had declined by $443.6 million to $375.27 billion.
Foreign currency assets (FCAs), a major component of the overall reserves, increased by $3.996 billion to $355.097 billion in the reporting week, RBI said.
Also Read
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 stable at $20.438 billion.
The special drawing rights with the International Monetary Fund increased by $15 million to $1.469 billion.
The country's reserve position with the IMF, too, rose by $25.2 million to $2.305 billion, the RBI said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%