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Forex Reserves Rise To $343 Billion

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After falling last week, the country's foreign exchange reserves surged by a healthy $2.79 billion to $343.2 billion in the week to April 17 as foreign currency assets (FCAs) rose, the Reserve Bank of India (RBI) said.
 
In the previous reporting week, the forex reserves declined by $2.59 billion to $340.41 billion.
 
FCAs, a major part of the overall reserves, increased by $2.73 billion to $318.86 billion during the week under review, the RBI data showed.
 
Foreign currency assets, 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 stable at $19 billion for the reporting week.
 
The special drawing rights with the International Monetary Fund was up $45.6 million to $4 billion, while the country's reserve position with the IMF rose $14.8 million to $1.3 billion, the data showed.


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