Forex reserves at record high of USD 389.059 billion

India’s Foreign Exchange Reserves rose by USD 2.681 billion to touch a new life-time high of USD 389.059 billion in the week to July 14, helped by increase in Foreign Currency Assets (FCAs).

According to Reserve Bank of India data released yesterday, FCAs, a major component of overall reserves, surged by USD 2.677 billion to USD 364.908



billion.

The RBI data also showed that Gold reserves remained unchanged at USD 20.348 billion. It stated that the special drawing rights with the International Monetary Fund (IMF) rose by USD 1.8 million to USD 1.479 billion. 

It also stated that country's reserve position with the IMF too increased by USD 2.7 million to USD 2.322 billion.