Forex reserves rise by $73.2 mn to touch record high of $365.82 bn

Mumbai: The country’s forex exchange reserves surged by $73.2 million to touch a life-time high of $365.82 billion in the week to 12 August, helped by increase in foreign currency assets, the Reserve Bank said Friday. [caption id=“attachment_2334664” align=“alignleft” width=“380”]  AP[/caption] In the previous week, the reserves had increased by $253.6 million to touch $365.75 billion. Foreign currency assets (FCAs), a major component of the overall reserves increased by $81.6 million to $340.36 billion. FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of non-US currencies such as euro, pound and yen held in the reserves. Gold reserves remain unchanged at $21.58 billion. The country’s special drawing rights with International Monetary Fund declined by $3.2 million to $1.49 billion, while the reserve position was down by $5.2 million to $2.39 billion, RBI said.