Forex reserves touch record high at $372.73 billion

Mumbai: The foreign exchange reserves rose by USD 1.594 billion to touch a life-time high of Rs 372.73 billion in the week to April 28, supported by increase in the foreign currency assets, the Reserve Bank said.

The reserves had gone up by USD 1.250 billion to USD 371.14 billion in the previous week.

Previously, they had touched a high of USD 371.99 billion in the week to September 30, 2016.

Foreign currency assets (FCAs), a major component of the overall reserves, surged by USD 1.569 billion to USD 349.055 billion in the reporting week, the 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 remained unchanged at USD 19.869 billion, the central bank said.

The special drawing rights with the International Monetary Fund were up by USD 8.5 million to USD 1.460 billion.

The country's reserve position with the Fund, too, rose by USD 15.8 million to USD 2.347 billion, the RBI said.