India’s foreign exchange reserves touched a record high of $367.169 billion (approximately Rs 24.6 lakh crore) in the week leading up to August 19, PTI reported on Friday. The amount grew by $1.346 billion (approximately Rs 9,021 crore) from the previous week, the report added.
Experts attributed the rise to growing Foreign Currency Assets, a collection of currencies from other countries such as the dollar, pound and euro held by the central bank. A country’s foreign exchange reserves have a significant proportion of FCAs. Other assets, such as gold reserves, remained largely the same.