India's forex reserves up $359 mn
Mumbai: India's foreign exchange (forex) reserves went up by USD359.4 million to USD295.23 billion for the week ended Oct 19, Reserve Bank of India (RBI) data shows.
The reserves had gone down by USD163.7 million to USD294.87 billion for the week ended Oct 12. The reserves were up by USD227.3 million for the week ended Oct 5.
Foreign currency assets (FCA) - the biggest component of the forex reserves - was up 351.3 million at USD260.37 billion. The FCA had fallen by USD150.1 million to USD260.02 billion in the previous week, according to the weekly statistical supplement released by the RBI. The FCA were up by USD218.3 million to USD260.17 billion for the week ended Oct 5.
India's central bank in a statement said that FCA in the US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.
The value of gold reserves remained unchanged at 28.13 billion since the week ended Oct 12. The reserves had zoomed USD1.89 billion in the week ended Sep 28.
The special drawing rights (SDRs) increased by USD5.3 million to USD2.39 billion during the week under review, while reserves with the International Monetary Fund (IMF) were down by USD2.8 million to USD2.27 billion.
The SDRs had decreased by USD9 million to USD4.44 billion during the previous under review, while reserves with the International Monetary Fund (IMF) were down by USD4.6 million to USD2.26 billion.