Forex reserves climb $2.518 bn to record $575.29 bn

The country's foreign exchange reserves rose by $2.518 billion to touch a lifetime high of $575.29 billion in the week ended November 20, RBI data showed on Friday.

In the previous week ended November 13, the reserves had surged by $4.277 billion to $572.771 billion.

In the reporting week, the increase in the forex kitty was on account of a rise in foreign currency assets (FCAs), a major component of the overall reserves.

FCAs rose by $2.835 billion to $533.103 billion, according to the weekly data by the Reserve Bank of India (RBI).

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

The gold reserves declined by $339 million in the reporting week to $36.015 billion, as per the central bank data.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) marginally rose by $4 million to $1.492 billion.

The country's reserve position with the IMF also increased by $19 million to $4.680 billion.

Photograph: Gary Cameron/Reuters