Foreign exchange reserves reach life-time high

Foreign exchange reserves reach life-time high of USD 466.69 bn

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The country's foreign exchange reserves reached a life-time high of USD 466.693 billion after a massive USD 4.535 billion spike in the week to January 24, according to the Reserve Bank of India data.

In the previous week, the reserves had increased by USD 943 million to USD 462.16 billion.

In the reporting week, the increase in reserves was mainly on account of a rise in foreign currency assets, a major component of the overall reserves, which rose by USD 4.470 billion to USD 432.919 billion, the RBI data released on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

In the reporting week, gold reserves increased by USD 153 million to USD 28.715 billion.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by USD 3 million to USD 1.45 billion. The country's reserve position with the IMF also declined by USD 85 million to USD 3.615 billion, the data showed.