India's forex reserves up $55.6 million
Mumbai: India's foreign exchange (forex) reserves went up by USD55.6 million to USD295.29 billion for the week ended Oct 26, Reserve Bank of India (RBI) data show.
The reserves rose USD359.4 million to USD295.23 billion for the week ended Oct 19. The forex had declined by USD163.7 million to USD294.87 billion for the week ended Oct 12.
The foreign currency assets (FCA) - the biggest component of the forex reserves - was up USD86.9 million at USD260.46 billion, according to the weekly statistical supplement released by the RBI.
The FCA increased USD351.3 million at USD260.37 billion in the previous week.
India's central bank said FCA in 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) declined by USD20.7 million to USD4.43 billion during the week under review while reserves with the International Monetary Fund (IMF) were down by USD10.6 million to USD2.26 billion.
The SDRs had decreased by USD5.3 million to USD2.39 billion during the previous under review, while reserves with the International Monetary Fund (IMF) were down by USD2.8 million to USD2.27 billion.