Forex reserves at record high of USD 393.612 bn

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The country’s foreign exchange reserves rose by USD 163.8 million to touch a new life-time high of USD 393.612 billion in the week ended August 11, helped by rise in foreign currency assets (FCAs), the Reserve Bank data showed.

In the previous week, the reserves had increased by USD 581.1 million to USD 393.448 billion.

FCAs, a major portion of the overall reserves, rose by USD 175.6 million to USD 369.899 billion, the data showed.

Expressed in US dollar terms, FCAs include effect of appreciation or depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves.

The gold reserves remained unchanged at USD 19.943 billion.

The special drawing rights with the International Monetary Fund (IMF) declined by USD 5.8 million to USD 1.498 billion.

The country’s reserve position with the IMF also dipped by USD 6 million to USD 2.271 billion, the apex bank said.