 "Forex reserves touch record high of $372 bn")
India’s foreign exchange reserves scaled a new high of $371.99 billion, up $1.223 billion for the week to September 30, according to Reserve Bank of India (RBI) data.
RBI said the increase was primarily on account of a $1.468-billion surge in the foreign currency assets. In the previous week, the reserves had risen $1.166 billion to $370.766 billion. Previously, they had touched a high of $371.279 billion in the week to September 9.
Foreign currency assets, a major component of the overall reserves, surged $1.468 billion to $346.71 billion, RBI said.
After remaining steady for multiple weeks, gold reserves declined $236.4 million to $21.406 billion, RBI said.
The special drawing rights with the International Monetary Fund decreased by $3.3 million to $1.487 billion, while the reserve position with the fund dipped by $5 million to $2.385 billion, the apex bank said.
