Inaia’s Forex Reserves touch an all time high

07 Feb, Mumbai :

India’s foreign exchange reserves surged by 5.84 billion US Dollars to touch a fresh all-time high of 327.88 billion US Dollars during the week ending January 30,according to Reserve Bank of India.

In the previous reporting week, the reserves had declined marginally by 97.9 million dollars to 322.037 billion dollars.

The previous record high was 322.13 billion dollars recorded for the week ended January 16.

The increase in reserves was on account of higher foreign currency assets (FCA), which forms a major constituent of overall reserves. In the reporting week, FCA rose by 5.814 billion dollars to 303.325 billion dollars, Reserve Bank sources said.

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