India’s foreign exchange reserves up by $1.9 bn to $281 bn
As per the Reserve Bank of India (RBI), India’s Forex reserves increased for a third consecutive week adding rasing it by $1.9 billion to touch $281.12 billion on account of growth in a key component.
In the previous week, the reserves had jumped by $1.51 billion to $279.24 billion. As per RBI, Foreign Currency Assets (FCAs), which form the largest portion of the reserves, jumped $1.8 billion to $252.7 billion in the same period of review.
FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves.
The gold reserves remained same at $21.765 billion, while the Special Drawing Rights (SDRs) rose by $25.6 million to $4.46 billion. The reserve position of India with the IMF also improved and rose by $12.7 million to $2.205 billion.
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