India's forex reserves up $60 million at $318 billion as of 29 August

08 September 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.

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