India’s Forex Reserve Increases By $3.09 Bn To Another High Of $476.09 Bn

India's foreign exchange reserves surged by $3.091 billion to a fresh lifetime high of $476.092 billion in the week to 14 February, mainly due to a rise in foreign currency assets, according to the RBI data.

In the previous week, the forex reserves had increased by $1.701 billion to $473 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, rose by $2.763 billion to $441.949 billion. These are expressed in dollar terms and include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves rose by $344 million to $29.123 billion for the 14 February-ended week. In the previous week, gold reserves had declined by $218 million to $28.779 billion.

The special drawing rights with the International Monetary Fund (IMF) were down by $6 million to $1.430 billion from $1.436 billion, a week before.

The country's reserve position with the IMF also declined by $9 million to $3.590 billion as per data.