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India's Forex Reserves Cross $400 Billion For The First Time

The foreign currency assets (FCAs), a major component of the overall reserves, increased by $2.568 billion to $376.209 billion for the reporting week, according to data by the Reserve Bank of India (RBI).
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In the previous week, forex reserves had increased by $3.572 billion to $398.122 billion.
In the previous week, forex reserves had increased by $3.572 billion to $398.122 billion.
Mumbai: The country's forex reserves surged by $2.604 billion to reach an all-time high of $400.726 billion in the week ended September 8 on account of rise in foreign currency assets, RBI data showed today.

In the previous week, the reserves had increased by $3.572 billion to $398.122 billion.

The foreign currency assets (FCAs), a major component of the overall reserves, increased by $2.568 billion to $376.209 billion for the reporting week, according to data by the Reserve Bank of India (RBI).

Expressed in US dollar terms, FCAs include the effect of appreciation or depreciation of non-US dollar currencies, such as the euro, the pound and the yen held in the reserves.

The gold reserves remained unchanged at $20.691 billion.

The special drawing rights with the International Monetary Fund (IMF) increased by $14.2 million to $1.520 billion, the apex bank said.

The country's reserve position with the IMF also increased by $21.4 million to $2.304 billion, it said.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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