India's forex reserves touch record high at USD 344.6 bn

The country's foreign exchange reserves surged by USD 1.4 billion to touch a new life-time high of USD 344.6 billion in the week to April 24, as foreign currency assets (FCAs) rose, the Reserve Bank said.
In the previous reporting week, the forex reserves had increased by USD 2.788 billion to USD 343.2 billion.
FCAs, a major part of the overall reserves, increased by USD 1.4 billion to USD 320.26 billion during the week, the RBI data showed.
Foreign currency assets, 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.

The country's gold reserves remained stable at USD 19.03 billion in the reporting week.
The special drawing rights with the International Monetary Fund was marginally up by USD 0.2 million to USD 4 billion, while the country's reserve position with the IMF remained stable at USD 1.29 billion, the data showed.