Forex reserves surge to record $392.86 billion

The country's foreign exchange reserves surged by $1.536 billion to touch a fresh life-time high of $392.867 billion during the week to July 28, helped by rising in foreign currency assets (FCAs), the RBI data showed.

In the previous week, the reserves had increased by $2.27 billion to $391.33 billion.

FCAs, a major component of the overall reserves, rose by $1.609 billion to $368.759 billion, the data showed.

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

Gold reserves remained unchanged at $20.35 billion.

The special drawing rights with the International Monetary Fund (IMF) went up by $3.9 million to $1.495 billion.

The country's reserve position with the IMF declined by $77.2 million to $2.263 billion, the apex bank said.