Forex reserves jump to lifetime high of $481.54 bn

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The country's foreign exchange reserves swelled by $5.42 billion to a lifetime high of $481.54 billion in the week to February 14, on the back of rise in foreign currency assets, according to the latest data from the RBI. In the previous week, the foreign exchange reserves had increased by $29 million to $476.12 billion.

Foreign currency assets, a major component of the overall reserves, rose by $4.36 billion to $445.82 billion in the reporting week.

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 rose by $1.02 million to $30.38 billion.

The Special Drawing Rights with the International Monetary Fund (IMF) fell $5 million to $1.43 billion.

The country's reserve position with the IMF also increased by $31 million to $3.61 billion, the data showed.