Forex Reserves Up $920 Mn at $355 Bn: RBI

Mumbai: India's foreign exchange reserves rose by $920.6 million to $355.353 billion in the week to August 21, on account of higher foreign currency assets.

In the previous reporting week, the reserves had increased by a healthy $1.086 billion to $354.433 billion. The reserves had touched an all-time high of $355.46 billion in the week to June 19.

Foreign currency assets (FCAs), a major component of overall reserves, were up $894.3 million at $331.731 billion in the reporting week, the latest data from the Reserve Bank of India showed.

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

Gold reserves stood unchanged at $18.250 billion.

India's special drawing rights with the International Monetary Fund rose by $19.9 million to $4.075 billion in the week under review, while the nation's reserve position with the fund was up $6.4 million at $1.297 billion, the apex bank said.