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Forex reserves at record high of USD 389.059 billion

In the previous week, the reserves had marginally declined by USD 161.9 million to USD 386.377 billion.

Reported by: PTI, Mumbai [ Published on: July 21, 2017 21:32 IST ]
Forex reserves at record high of USD 389.059 billion
Forex reserves at record high of USD 389.059 billion

The country's foreign exchange reserves rose by USD 2.681 billion to touch a new life-time high of USD 389.059 billion in the week to July 14, helped by increase in foreign currency assets (FCAs), RBI data showed. 

In the previous week, the reserves had marginally declined by USD 161.9 million to USD 386.377 billion. 

FCAs, a major component of overall reserves, surged by USD 2.677 billion to USD 364.908 billion, according to the RBI data. 

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 unchanged at USD 20.348 billion. The special drawing rights with the International Monetary Fund (IMF) rose by USD 1.8 million to USD 1.479 billion. 

The country's reserve position with the IMF too increased by USD 2.7 million to USD 2.322 billion.

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