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

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
By PTI
Updated: Fri, Aug 26, 2016
07:37 pm
PTI
RELATED NEWS
Why Arvind Panagariya, former Niti Aayog vice-chairman, is not worried about falling Rupee Why Arvind Panagariya, former Niti Aayog vice-chairman, is not worried about falling Rupee
US President Donald Trump calls Chinese ''grand champions'' of currency manipulation US President Donald Trump calls Chinese ''grand champions'' of currency manipulation
China's January forex reserves fall more than expected to $2.998 trillion, near 6-year low China's January forex reserves fall more than expected to $2.998 trillion, near 6-year low

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.