Forex reserves at new life-time high

India's foreign exchange reserves surged by USD 1.620 billion to USD 430.572 billion in the week to August 9 on rise in foreign currency assets, according to the latest RBI data released on Friday.

In the previous reporting week ended on August 2, the reserves had declined by USD 697.2 million to USD 428.952 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, increased by USD 15.2 million to USD 398.739 billion, the apex bank said on Friday.

Expressed in dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US units like the euro, pound and yen held in the reserves.

The country's gold reserves surged by USD 1.591 billion to USD 26.754 billion, according to data.