India’s forex reserves at a life-time high of $426.082 billion | business news | Hindustan Times
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India’s forex reserves at a life-time high of $426.082 billion

India’s forex reserves expanded by $1.217 billion to 426.082 billion in the week to 13 April, RBI has said.

business Updated: Apr 20, 2018 22:10 IST
The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, February 2, 2016. REUTERS/Danish Siddiqui/Files
The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, February 2, 2016. REUTERS/Danish Siddiqui/Files(Reuters File)

The country’s foreign exchange reserves expanded by USD 1.217 billion to touch a life-time high of USD 426.082 billion in the week to April 13, helped by rise in foreign currency assets, the Reserve Bank of India (RBI) said.

In the previous week, the reserves had increased by USD 503.6 million to reach USD 424.864 billion.

It had crossed the USD 400-billion mark for the first time in the week to September 8, 2017, but has since been fluctuating.

In the reporting week, the foreign currency assets, a major component of the overall reserves, increased by USD 1.202 billion to USD 400.978 billion.

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

Gold reserves remained unchanged at USD 21.484 billion in the reporting week, the central bank said.

The special drawing rights with the International Monetary Fund (IMF) increased by USD 6.6 million to USD 1.540 billion.

The country’s reserve position with the IMF also rose by USD 8.9 million to USD 2.079 billion, RBI said.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)