India’s forex reserves up $60 million at $318 billion as of 29 August
08 Sep 2014
India's foreign exchange reserves increased by $60.5 million to $318.64 billion during the week ended 29 August on the back of rising foreign currency assets, the Reserve Bank (RBI) said o Friday.
The reserves had fallen by a whopping $810.7 million to $318.579 billion in the previous week, the RBI statement noted.
Foreign currency assets (FCAs), a major constituent of overall forex reserves, increased by $75 million to $291.393 billion during the period, RBI said.
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 reserves.
Gold reserves remained unchanged at $21.173 billion.
Special drawing rights were down $10.5 million at $4.386 billion.
India's reserve position with the IMF dropped by $4 million to $1.687 billion during the week, RBI data showed.
