Forex reserves rise by USD 3.091 bn to record USD 476.092 bn

The country's foreign exchange reserves swelled by USD 3.091 billion to a lifetime high of USD 476.092 billion in the week to February 14, mainly due to a rise in foreign currency assets, according to the RBI data. In the previous week, the foreign exchange reserves had increased by USD 1.701 billion to USD 473 billion.

Foreign currency assets, a major component of the overall reserves, rose by USD 2.763 billion to USD 441.949 billion in the reporting week. 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. Gold reserves rose by USD 344 million to USD 29.123 billion. The special drawing rights with the International Monetary Fund (IMF) were down by USD 6 million to USD 1.430 billion. The country's reserve position with the IMF also declined by USD 9 million to USD 3.590 billion, the data showed.

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