Forex reserves rise USD 441 mn to new lifetime high of USD 448.2 bn

India's forex reserves rose by USD 441 million to a fresh lifetime high of USD 448.249 billion in the week to November 15 on an increase in core currency assets, RBI data showed on Friday.

The overall foreign exchange reserves, which have been on an upward trend for many weeks now, had swelled by USD 1.71 billion to USD 447.808 billion in the previous reporting week.

The foreign currency assets, a major component of the reserves, increased by USD 643 million to USD 416.472 billion in the week ended November 15, as per the Reserve Bank data.

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.

During the week, gold reserves decreased by USD 200 million to USD 26.709 billion, it said.

The special drawing rights with the International Monetary Fund was down by USD 5 million to USD 1.435 billion.

The country's reserve position with the Fund increased by USD 3 million to USD 3.633 billion, the apex bank data showed.