India's Forex Reserves Rise To $367.15 Billion

Business

oi-Sunil Fernandes

India's forex reserves rise to $367 billion for the week ended October 28, 2016.

By Sunil Fernandes

Published: Saturday, November 5, 2016, 6:08 [IST]

India's forex reserves rose up by USD 16.6 million to USD 367.157 billion for the week ended October 28, the Reserve Bank said Friday.

Total reserves had risen by USD 1 billion to USD 367.14 billion in the previous week, according to PTI reports.

In the reporting week, foreign currency assets (FCAs), a major component of the overall reserves, increased by USD 21.6 million to USD 341.944 billion.

FCAs, expressed in US dollar terms, include the effect of appreciation/depreciation of non-US currencies such as the euro, pound and the yen held in the reserves.

Gold reserves remained unchanged at USD 21.406 billion, the apex bank said.

The special drawing rights with the International Monetary Fund declined by USD 1.9 million to USD 1.461 billion, while India's reserve position with the Fund dipped by USD 3.1 million to USD 2.344 billion, the apex bank said.