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Forex reserves touch a life-time high

PTI

Mumbai

Foreign exchange reserves hit a life-time high of $363.8 billion after it rose $592.1 million in the week ended June 17, the Reserve Bank said on Friday.

In the previous week, the reserves had declined $231 million to $363.2 billion.

It had touched a record of $363.5 billion in the week through June 3, 2016.

The surge in reserves was on account of jump in foreign $339.6 billion in the reporting week, RBI data showed.

FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

Gold reserves remained unchanged at $20.3 billion.

The country's special drawing rights with IMF dipped by $1 million to $1.5 billion and the reserve position decreased by $1.2 million to $2.4 billion, the central bank said.

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Brexit: RBI says keeping 'close vigil' on developments

The Goan Network
Published Jun 23, 2016, 12:00 AM IST
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PTI Mumbai As stocks and rupee plunged sharply amid uncertainties ahead of 'Brexit' referendum on Thursday, RBI on Wednesday said it is keeping a “close vigil” on developments and will take all necessary steps including liquidity support to ensure orderly conditions in the financial markets. “In the run up to the referendum in the United Kingdom on its continuing in the European Union (Brexit), uncertainty about the poll outcome has resulted in some amount of turbulence in…

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