India’s Forex reserves increase by $1.25 billion

According to the Reserve Bank of India’s weekly statistical supplement, India’s foreign exchange (Forex) reserves have increased by 1.25 billion to reach 371.13 billion from $369.88 billion as on April 21, 2017. The current reserves are just short of a lifetime high of USD 371.99 billion reached in the week to September 30, 2016.

Components

The components of India’s Foreign Exchange Reserves include:

• Foreign currency assets (FCAs)
• Gold
• Special Drawing Rights (SDRs)
• RBI’s Reserve position with International Monetary Fund (IMF)

FCAs constitute the largest component of the Forex Reserves. It was augmented by 1.23 billion to 347.48 billion as on April 21, 2017. FCAs consist of US dollar and other major non-US global currencies. It also comprises of investments in US Treasury bonds, bonds of other selected governments, deposits with foreign central and commercial banks.
The gold reserves stand at $19.86 billion.
SDRs’ value has increased 5 million to 1.45 billion.
RBI’s reserve position with the IMF stands to $2.33 billion.