Published On: Fri, Sep 1st, 2017

India’s Forex reserves rise by $1.14 bn

Mumbai: India’s foreign exchange (Forex) reserves kitty increased by $1.148 billion as on August 25, 2017, official data showed on Friday.

The value of SDRs increased by $2.3 million to $1.49 billion

The Reserve Bank of India’s (RBI) weekly statistical supplement released on Friday showed that the overall Forex reserves rose to $394.55 billion from $393.40 billion reported for the week ended August 18.

India’s Forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI’s position with the International Monetary Fund (IMF).

Segment-wise, FCAs — the largest component of the Forex reserves — augmented by $1.142 billion to $370.83 billion during the week under review.

Besides the US dollar, FCAs consist of nearly 20-30 per cent of major (non-US) global currencies. The FCAs also include investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial banks.

The country’s gold reserves were stagnant at $19.94 billion.

However, the value of SDRs increased by $2.3 million to $1.49 billion.

Similarly, the country’s reserve position with the IMF edged higher by $3.6 million to $2.27 billion.

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