After declining for four straight weeks, country's foreign exchange reserves increased by $3.27 billion to hit an all-time high of $363.46 billion in the week to June 3, Reserve Bank said on Friday.
The reserves had earlier touched a record high of $363.12 billion in the week to April 29. In the previous week, the reserves had declined by $711.6 million to $360.19 billion.testing.. we are here....
The surge in the reserves during the week was on account of a healthy rise in foreign currency assets (FCAs) a major component of the overall reserves.
FCA increased by $2.99 billion to $339.22 billion in the reporting week, central bank data showed.
FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of non-US currencies such as the euro, pound and yen held in the reserves. Gold reserves rose by $285.90 million to USD 20.33 billion.
The country's special drawing rights with International Monetary Fund was down by USD 3.9 million to USD 1.494 billion while the reserve position declined by USD 6.2 million to USD 2.419 billion, the apex bank said.