Forex reserves at record high of $365.74 billion

Mumbai: Continuing the rising trend, forex reserves increased by USD 253.6 million to touch record high of USD 365.749 billion in the week to August 5, the Reserve Bank said on Friday.

The reserves increased despite decline in foreign currency assets (FCAs), a major component of the overall reserves.

In the previous week, the reserves had jumped by a healthy USD 2.81 billion to USD 365.49 billion.

FCAs declined by USD 765.4 million to USD 340.278 billion.

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.

After remaining steady for many weeks, gold reserves shot up by USD 1.008 billion to USD 21.584 billion 20.58 billion.

The country's special drawing rights with International Monetary Fund rose by USD 4.1 million to USD 1.488 billion, while the reserve position soared by USD 6.7 million to USD 2.397 billion.