Forex reserves surge to record $392.86 billion

Mumbai: The country's foreign exchange reserves surged by USD 1.536 billion to touch a fresh life- time high of USD 392.867 billion during the week to July 28, helped by rise in foreign currency assets (FCAs), the RBI data showed.

In the previous week, the reserves had increased by USD 2.27 billion to USD 391.33 billion.

FCAs, a major component of the overall reserves, rose by USD 1.609 billion to USD 368.759 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.

Gold reserves remained unchanged at USD 20.35 billion.

The special drawing rights with the International Monetary Fund (IMF) went up by USD 3.9 million to USD 1.495 billion.

The country's reserve position with the IMF declined by USD 77.2 million to USD 2.263 billion, the apex bank said.