Forex reserve hits record high of $426.42 bn, surges by $4.2 bn in week to 21 June: RBI data

Mumbai: India's foreign exchange reserve touched a life-time high of $426.42 billion after it surged by $4.215 billion in the week to 21 June, RBI data showed.

Forex reserves had scaled a record high of $426.028 billion in the week to 13 April, 2018.

In the previous reporting week, the reserves had declined by $1.358 billion to $422.2 billion.

 Forex reserve hits record high of 6.42 bn, surges by .2 bn in week to 21 June: RBI data

Representational image. News 18.

The rise in reserves was on account of an increase in foreign currency asset, which is a major component of the overall foreign exchange reserves.

In the reporting week, foreign currency assets increased by $4.202 billion to $398.649 billion.

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 remained unchanged at $22.958 billion, according to RBI data.

Special drawing rights with the International Monetary Fund (IMF) increased by $4.2 million to $1.453 billion.

The country's reserve position with the fund also rose by $9.6 million to $3.354 billion.

Updated Date: Jun 28, 2019 18:21:21 IST