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India’s foreign exchange reserve grown to record high

Mumbai: The foreign exchange reserve of the country has surged for the second week in a row. As per the data released by the Reserve bank of India, the forex reserve of the country was surged by US dollar 889.5 crore to reach at an all-time high of US dollar 64,254.30 in the week ended September 3.

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This was mainly due to an increase in the Foreign currency assets (FCAs) of the country. FCA is the major component of the overall reserves. 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 FCAs surged by 821.30 crore US dollar and reached at an all-time high of 57,981.30 crore US dollar.


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