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.