The country’s foreign exchange reserves rose a whopping $4.2 billion to touch a record high of $359.7 billion in the week ended April 1, on account of rise in foreign currency assets, the Reserve Bank of India said on Friday.
Reserves had marginally declined by $387.5 million to $355.5 billion. Foreign currency assets (FCAs), a major component of overall reserves, rose $3.5 billion to $335.6 billion, RBI stated.
FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.
India's special drawing rights with the International Monetary Fund (IMF) increased by $13.9 million to $1.5 billion, while the country's reserve position declined by $143.3 million to $2.4 billion
Reserves had marginally declined by $387.5 million to $355.5 billion. Foreign currency assets (FCAs), a major component of overall reserves, rose $3.5 billion to $335.6 billion, RBI stated.
FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.
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Gold reserves increased by $789.6 million to $20.115 billion.
India's special drawing rights with the International Monetary Fund (IMF) increased by $13.9 million to $1.5 billion, while the country's reserve position declined by $143.3 million to $2.4 billion
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