Forex reserves rise to record high of $461.21 bn

The country foreign exchange reserves rose by $58 million to reach a life-time high of $461.21 billion in the week to January 10, 2020 according to the RBI data. In the previous week, the reserves had increased by $3.689 billion to $461.15 billion.

In the reporting week, the reserves rose despite a decline in foreign currency assets (FCA), which is a major component of the overall reserves. FCA decreased by $367 million to $427.582 billion, the RBI data released 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 forex reserves.

In the reporting week, gold reserves rose by $435 million to $28.492 billion.