India's forex reserves swell by $1.9 bn to touch all-time high of $440 bn

The forex kitty continued to climb north, swelling by $1.879 billion to a new life-time high of $ 439.712 billion, in the week to October 11, the Reserve Bank said on Friday.

The forex reserves had increased by a higher $4.24 billion to a new high of $437.83 billion in the previous reporting week.

For the week under review, the foreign currency assets, which are the biggest part of the reserves, increased by $ 2.269 billion to $407.88 billion, the RBI said.

Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the foreign exchange reserves.

The value of the gold reserves dipped by $399 million to $26.778 billion for the week, the RBI said.

The special drawing rights with the International Monetary Fund rose $2 million to $1.431 billion during the week.

The country's reserve position with the Fund also increased by $7 million to $3.623 billion, the data showed.