Forex kitty at life-time high of $381.167 billion

Mumbai: India's forex reserves surged by USD 2.404 billion to reach life-time high of USD 381.167 billion in the week to June 2 on account of rise in foreign currency assets, the Reserve Bank said on Friday.

In the previous week, the reserves had declined by USD 547 million to USD 378.763 billion.

Foreign currency assets (FCAs), a major component of overall reserves, increased by USD 2.748 billion to USD 357.290 billion in the reporting week, RBI said.

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

Gold reserves however declined by USD 343.2 million to USD 20.095 billion, the central bank said.

The special drawing rights (SDR) with the International Monetary Fund dipped by USD 0.2 million to USD 1.472 billion.

The country's reserve position with the IMF too declined by USD 0.4 million to USD 2.309 billion.