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Forex reserves up $1.43 bn to $278.6 bn

The country's foreign exchange reserves rose by USD 1.434 billion in the week ended August 9, after dropping by USD 2.99 billion previous week, the Reserve Bank of India said Friday.



Mumbai: The country's foreign exchange reserves rose by USD 1.434 billion in the week ended August 9, after dropping by USD 2.99 billion previous week, the Reserve Bank of India said Friday.

Total reserves rose to USD 278.601 billion as against USD 277.167 billion in the week ended August 2.

Foreign currency assets (FCA), a major component of the forex reserves, also increased by USD 1.453 billion to USD 251.349 billion in the week, according to the RBI. In the week ended August 2, FCA dropped USD 2.155 billion to USD 249.895 billion.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the Euro, Pound and Yen, held in the reserves.

During the week, the gold reserves remained unchanged at USD 20.747 billion, the central bank said.

For the week under review, the special drawing rights (SDRs) were up by USD 45.4 million to USD 4.398.2 billion, while the country's reserve position with the International Monetary Fund (IMF) fell by USD 64.7 million to USD 2.107 billion, the RBI data showed.

PTI

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