Forex reserves up $ 1 billion, at record high of $ 367 billion

Last week, the reserves had shot up by $ 73.2 million to $ 365.822 billion. Photo: Zee Business Webdesk

The country's foreign exchange reserves increased by a healthy $ 1.346 billion to touch a record high of $ 367.169 billion in the week to August 19 mainly due to a rise in foreign currency assets (FCAs).

Last week, the reserves had shot up by $ 73.2 million to $ 365.822 billion.

FCAs, a major component of the overall reserves, rose by $ 1.315 billion to $ 341.675 billion, the Reserve Bank said today.

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

Gold reserves remained unchanged at $ 21.584 billion.

The country's special drawing rights with International Monetary Fund increased by $ 11.8 million to $ 1.497 billion, while the reserve position was up by $ 19.2 million to $ 2.411 billion, RBI said.

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