Free Press Journal

Forex reserves up USD 2.263 bn to USD 353.069 bn



Mumbai: The country’s foreign exchange reserves jumped by a healthy USD 2.263 billion to USD 353.069 billion in the week to October 9, helped by rise in foreign currency assets, according to RBI data. In the previous fortnight, the reserves had increased by USD 827.4 million to USD 350.805 billion. Foreign currency assets (FCAs), a major component of overall reserves, grew by USD 2.222 billion to USD 329.517 billion in the week, RBI said in a release here today.

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 gold reserves remained unchanged at USD 18.151 billion in the reporting week. India’s special drawing rights with the International Monetary Fund rose by USD 30.4 million to touch USD 4.077 billion in the week, while the nation’s reserve position with  the Fund also grew by USD 10.5 million to USD 1.321 billion, the apex bank said.