Forex reserves increase by $889.4 mn to $369.887 bn

Posted by Daily Shipping Times on 24-04-2017        Tweet

MUMBAI : India’s foreign exchange reserves rose by USD 889.4 million to USD 369.887 billion during the week ended April 14, helped by increase in foreign currency assets, the Reserve Bank said. They had declined by USD 956.4 million to USD 368.998 billion in the previous reporting week. The reserves had touched a life-time high of USD 371.99 billion in the week to September 30, 2016.

Foreign currency assets (FCAs), a major component of the overall reserves, surged by USD 881 million to USD 346.248 billion in the reporting week, RBI said. Gold reserves remained unchanged at USD 19.869 billion, the apex bank said. The special drawing rights with the International Monetary Fund was up by USD 3.1 million to USD 1.446 billion. India’s reserve position with the Fund, too, rose by USD 5.3 million to USD 2.323 billion, RBI said.