RBI's forex reserves climb to all-time high of $ 333.17 bn

Reserves have been rising because the central bank has been mopping up dollar flows through state-run banks in a bid to boost its foreign exchange reserves

The Reserve Bank of India (RBI)’s foreign exchange reserves hit an all-time high of $333.17 billion for a consecutive week, show data released on Friday.

For the week ended February 13, the rise  was $2.96 billion.

Foreign currency assets, a key component, rose by $2.3 billion to $307.26 billion. The reserves have been rising because the central bank has been mopping dollar flows through state-run banks.

The reserves had touched a high of $322.14 billion in the week ending January 16. In the following week, these had dropped. Friday’s is the third weekly rise in a row.

During the week gold reserves remained unchanged at $ 20.18 billion.

 

For the week under review, the Special Drawing Rights (SDRs) fell by $ 5.1 million to $ 4.09 billion, while India's reserve position with the International Monetary Fund (IMF) was up $ 661.9 million to $ 1.64 billion.