India’s forex reserves up $1.3 bn

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Mumbai, Sep 28 (IANS) India’s foreign exchange (forex) reserves rose $1.3 billion during the week ended September 21, official data showed on Friday.

According to the Reserve Bank of India (RBI) weekly statistical supplement, the overall forex reserves increased to $401.79 billion from $400.48 billion reported for the week ended September 14.

India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI’s position with the International Monetary Fund (IMF).

Segment-wise, FCAs — the largest component of the forex reserves — augmented by $1.25 billion to $377.41 billion during the week under review.

Besides the US dollar, FCAs consist of nearly 20-30 per cent of major global currencies.

The RBI weekly statistical supplement showed that the value of the country’s gold reserves increased. It went up by $35.9 million to $20.41 billion.

As per the data, the SDRs’ value rose by $2.6 million to $1.48 billion, while the country’s reserve position with the International Monetary Fund (IMF) increased by $4.3 million to $2.48 billion.



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