Forex reserves hit all-time high

Foreign exchange reserves jumped by a massive $2.66 billion to touch an all-time high of $322.135 billion in the week ended January 16, on account of surge in foreign currency assets, the Reserve Bank of India said on Friday. The reserves had surged by $236.4 million to $319.475 billion in the previous week. The previous life-time high for the reserves was $320.79 billion, way back in the week to September 2, 2011. The foreign currency assets (FCAs), a major constituent of overall reserves, jumped $2.685 billion to $297.53 billion in the reporting week, as per the RBI data.

Source - The Hindu