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Forex reserves at life-time high of $379 billion

Last week, the reserves had declined by $443.6 million to $375.27 billion

An illustration picture shows euro and US dollar banknotes and coins

An illustration picture shows euro and US dollar banknotes and coins

Press Trust of India Mumbai
The country's forex reserves rose by a whopping $4.036 billion to life-time high of $379.310 billion in the week ended May 19, helped by a surge in the foreign currency assets, the Reserve Bank said.

Last week, the reserves had declined by $443.6 million to $375.27 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, increased by $3.996 billion to $355.097 billion in the reporting week, RBI said.

Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.

Gold reserves remained stable at $20.438 billion.
 

The special drawing rights with the International Monetary Fund increased by $15 million to $1.469 billion.

The country's reserve position with the IMF, too, rose by $25.2 million to $2.305 billion, the RBI said.

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First Published: May 27 2017 | 1:32 AM IST

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