Forex reserves at life-time high of $379.310 billion

Mumbai: The country's forex reserves rose by a whopping USD 4.036 billion to life-time high of USD 379.310 billion in the week ended May 19, helped by a surge in the foreign currency assets, the Reserve Bank said.

Last week, the reserves had declined by USD 443.6 million to USD 375.27 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, increased by USD 3.996 billion to USD 355.097 billion in the reporting week, RBI said.

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

Gold reserves remained stable at USD 20.438 billion.

The special drawing rights with the International Monetary Fund increased by USD 15 million to USD 1.469 billion.

The country's reserve position with the IMF, too, rose by USD 25.2 million to USD 2.305 billion, the RBI said.