Forex reserves up $321.7 mn to $353.648 bn

Country's foreign exchange reserves rose by 321.7 million to USD 353.648 billion in the week to July 24 on account of increase in foreign currency assets, the Reserve Bank said on Friday.

Forex reserves up $321.7 mn to $353.648 bn

Mumbai: Country's foreign exchange reserves rose by 321.7 million to USD 353.648 billion in the week to July 24 on account of increase in foreign currency assets, the Reserve Bank said on Friday.

In the previous week, reserves had declined by USD 1.03 billion to USD 353.33 billion.

They had touched a life-time high of USD 355.46 billion in the fortnight ended June 19.

Foreign currency assets (FCAs), which are a major component of overall reserves, rose by USD 314.2 million to USD 329.245 billion in the week, the data showed.

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

The country's gold reserves remained unchanged at USD 19.074 billion.

The special drawing rights with the International Monetary Fund were up by USD 5.8 million to USD 4.024 billion in the week under review, while the country's reserve position with the Fund also rose by USD 1.8 million to USD 1.304 billion, RBI said.

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