Forex reserves hit new high at over USD 338 billion | business | Hindustan Times
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Forex reserves hit new high at over USD 338 billion

business Updated: Mar 08, 2015 15:36 IST
Forex reserves

Foreign exchange reserves rallied to a new life-time high at USD 338.079 billion, an increase of USD 3.886 billion in the week to February 27, on account of higher foreign currency assets.

In the previous week, the reserves had risen by USD 1.023 billion to USD 334.193 billion, the Reserve Bank data showed.

The foreign currency assets, a major constituents of overall reserves, increased by USD 3.902 billion to USD 312.200 billion.

The foreign currency assets, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen, held in the reserves.

The country's gold reserves continued to remain unchanged at USD 20.183 billion for the reporting week.

However, the special drawing rights decreased by USD 11.4 million to USD 4.065 billion, and the nation's reserve position with the International Monetary Fund also dipped by USD 4.6 million to USD 1.630 billion during the reporting week, the data showed.