Forex reserves continue to jump, hit new high at $334.2 bn

Mumbai, February 27

The foreign exchange reserves have touched a new life-time high at USD 334.193 billion, up USD 1.023 billion, in the week to February 20, on account of higher foreign currency assets, the Reserve Bank said today.

In the previous week, the reserves had risen by USD 2.956 billion to USD 333.169 billion.

The foreign currency assets, a major constituent of overall reserves, increased by USD 1.040 billion to USD 308.297 billion in the reporting week, the data released by the apex bank showed.

The foreign currency assets, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen, held in the reserves.

Reflecting the stagnant prices of the yellow metal, the country's gold reserves continued to remain unchanged at USD 20.183 billion for the reporting week.

However, the special drawing rights decreased by USD 12 million to USD 4.077 billion, and the nation's reserve position with the International Monetary Fund also dipped by USD 4.8 million to USD 1.634 billion during the reporting week, the data showed. — PTI