Forex reserves jump to lifetime high of USD 481.54 bn

The country's foreign exchange reserves swelled by USD 5.42 billion to a lifetime high of USD 481.54 billion in the week to February 14, on the back of rise in foreign currency assets, according to the latest data from the RBI. In the previous week, the foreign exchange reserves had increased by USD 29 million to USD 476.12 billion.

Foreign currency assets, a major component of the overall reserves, rose by USD 4.36 billion to USD 445.82 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.

The gold reserves rose by USD 1.02 million to USD 30.38 billion. The Special Drawing Rights with the International Monetary Fund (IMF) fell USD 5 million to USD 1.43 billion.

The country's reserve position with the IMF also increased by USD 31 million to USD 3.61 billion, the data showed.