Forex Reserves Climb $582 Million to Record $542.013 Billion

The country's foreign exchange reserves rose by USD 582 million to reach a lifetime high of USD 542.013 billion in the week ended September 4, RBI data showed on Friday. In the previous week ended August 28, the reserves had surged by USD 3.883 billion to USD 541.431 billion.

In the reporting week, the foreign currency assets (FCA), a major component of the overall reserves, increased by USD 269 million to USD 498.362 billion, the data showed. 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 321 million in the reporting week to USD 37.521 billion, as per the central bank data. The special drawing rights with the International Monetary Fund (IMF) marginally increased by USD 2 million to USD 1.482 billion. The country's reserve position with the IMF declined by USD 9 million to USD 4.647 billion during the reporting week.