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Forex reserves up by USD 625.5 mn to USD 360.296 bn

Mumbai: Foreign exchange reserves rose by USD 625.5 million to USD 360.296 billion in the week to December 30, helped by an increase in foreign currency assets, the Reserve Bank said today.

In the previous week, the reserves had declined by USD 935.2 million to USD 359.671 billion.

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, increased by USD 612.4 million to USD 336.582 billion in the reporting week.

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 steady at USD 19.982 billion in the reporting week, the RBI said.

The special drawing rights with the International Monetary Fund rose by USD 4.9 million to USD 1.432 billion, while India’s reserve position with the Fund, too, increased by USD 8.2 million to USD 2.299 billion, RBI said.