Forex kitty hits new high of $431bn

India's foreign exchange reserves surged by $1.6 billion to a record $430.6 billion in the week to August 9 over rise in foreign currency assets. In the previous reporting week ended August 2, the reserves had declined by $697.2 million to $429 billion. In the reporting week, foreign currency assets, a major component of the overall reserves, increased by $15.2 million to $398.7 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. 

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