Forex reserves rise to record $476 billion

The country’s foreign exchange reserves swelled by $3.091 billion to a lifetime high of $476.092 billion in the week to February 14, mainly due to a rise in foreign currency assets, according to RBI data.

In the previous week, the foreign exchange reserves had increased by $1.701 billion to $473 billion.

Foreign currency assets, a major component of the overall reserves, rose by $2.763 billion to $441.949 billion in the reporting week.

Gold reserves rose by $344 million to $29.123 billion. The special drawing rights with the Internation al Monetary Fund (IMF) were down by $6 million to $1.430 billion.