Forex reserves soar $2.3 bn to touch all-time high of $453 bn driven by increase in foreign currency assets

Mumbai: The country's foreign exchange reserves surged by $2.342 billion to touch a life-time high of $453.422 billion in the week to 6 December, according to the RBI data.In the previous week, the reserves had increased by $2.484 billion to $451.08 billion, the weekly data released by the Reserve Bank of India (RBI) on Friday showed.[caption id="attachment_4292949" align="alignleft" width="380"]

Representational image. News 18.[/caption]In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which surged by $1.891 billion to $421.258 billion, according to the data.Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in forex reserves.During the reporting week, gold reserves increased by $430 million to $27.078 billion.The special drawing rights with the International Monetary Fund (IMF) was by $5 million to $1.441 billion during the week.The country's reserve position with the IMF also increased by $15 million to $3.644 billion, the data showed.