US dollars.  (AP )
US dollars. (AP )

Forex reserves nearing lifetime high; up $1.7 billion to $423.5 billion

  • The country's reserve position with the Fund also rose $14 million to $3.3345 billion
  • Gold reserves were unchanged at $22.958 billion, according to the RBI data

MUMBAI : Inching closer to its historic peak, India's forex kitty increased by $1.686 billion to $423.554 billion for the week to June 7, RBI data showed Friday.

The foreign exchange reserves had increased by $1.875 billion to $421.867 billion in the previous reporting week.

The reserves had touched a lifetime high of $ 426.028 billion in April 2018.

In the reporting week, foreign currency assets, a major component of the overall reserves, rose by $1.666 billion to USD 395.801 billion, the apex bank said.

Expressed in dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US units like the euro, pound and yen held in the reserves.

Gold reserves were unchanged at $22.958 billion, according to the RBI data.

The special drawing rights with the International Monetary Fund rose $6.1 million to $1.449 billion.

The country's reserve position with the Fund also rose $14 million to $3.3345 billion.

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