Forex reserves at life-time high of USD 426.082 billion

Mumbai: The country's foreign exchange reserves expanded by USD 1.217 billion to touch a life-time high of USD 426.082 billion in the week to April 13, helped by rise in foreign currency assets, the Reserve Bank of India (RBI) said.

In the previous week, the reserves had increased by USD 503.6 million to reach USD 424.864 billion. It had crossed the USD 400-billion mark for the first time in the week to September 8, 2017, but has since been fluctuating.

In the reporting week, the foreign currency assets, a major component of the overall reserves, increased by USD 1.202 billion to USD 400.978 billion. Expressed in the US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as euro, pound and Japanese yen held in the reserves.

Gold reserves remained unchanged at USD 21.484 billion in the reporting week, the central bank said. The special drawing rights with the International Monetary Fund (IMF) increased by USD 6.6 million to USD 1.540 billion. The country's reserve position with the IMF also rose by USD 8.9 million to USD 2.079 billion, RBI said.