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Forex reserves up $782.7 mn to $361.557 bn

Mumbai: India’s foreign exchange reserves rose by USD 782.7 million to USD 361.557 billion in the week to January 27, helped by increase in foreign currency assets, the Reserve Bank said.

In the previous week, the reserves had surged by USD 932.4 million to USD 360.775 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, increased by USD 776.9 million to USD 339.211 billion in the reporting week, RBI said.

FCAs, expressed in US dollar terms, include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen held in the reserves.

Gold reserves remained unchanged in the week at USD 18.584 million, RBI said.

The special drawing rights with the International Monetary Fund rose by USD 2.2 million to USD 1.444 billion, while India’s reserve position with the Fund, too, increased by USD 3.6 million to USD 2.318 billion, RBI said.