Forex Reserves Hit Life-Time High At $365.49 Billion

Mumbai: Country's foreign exchange reserves rose by $2.81 billion to reach a life-time high of $365.49 billion in the week to July 29, helped by rise in foreign currency assets, the Reserve Bank said on Friday. In the previous week, the reserves had dropped by $664 million to $362.69 billion. Foreign currency assets (FCAs), a major component of the overall reserves, rose $2.79 billion to $341.04 billion in the reporting

week, RBI data showed.  FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of non-US currencies such as euro, pound and yen held in the reserves. Gold reserves remained unchanged at $20.58 billion. The country's special drawing rights with International Monetary Fund increased by $8.5 million to $1.48 billion while the reserve position rose by $13.6 million to $2.39 billion, RBI said.