India's foreign exchange reserves move up by $16 million to reach $367 billion

Mumbai: India`s foreign exchange reserves inched up by $16.6 million to $367.15 billion as on October 28, the Reserve Bank of India (RBI) has said.

According to the RBI`s weekly statistical supplement, the overall Forex reserves increased to $367.15 billion from $367.14 billion for the week ended October 21.

Segment-wise, the Foreign Currency Assets (FCAs) -- the largest component of the Forex reserves rose by $21.6 billion to $341.94 billion during the week under review. 

Apart from the US dollar, the FCAs consist of nearly 20-30 per cent of other major global currencies, securities and bonds. 

The individual movements of these currencies against the US dollar impacts the overall foreign reserves` value.

However, the country`s gold reserves were stagnant at $21.40 billion. 

Furthermore, the special drawing rights (SDRs) slipped by $1.9 million to $1.46 billion.

Similarly, the country`s reserve position with the International Monetary Fund (IMF) fell by $3.1 million to $2.34 billion.