The country's foreign exchange reserves surged by $2.539 billion to touch an all-time high of $355.947 billion in the week ended 18 March, on account of rise in foreign currency assets (FCAs), the Reserve Bank said today. The reserves had touched a high of $355.46 billion in the week ended 19 June last year.
FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.
Gold reserves marginally rose by $0.6 million to $19.325 billion in the week. India's special drawing rights with the International Monetary Fund (IMF) increased by $12.1 million to $1.498 billion, while the country's reserve position with the Fund was up by $21.1 million to $2.618 billion, RBI said.