1. Forex reserves rise $1.2 b to $371 billion

Forex reserves rise $1.2 b to $371 billion

Forex reserves had dropped by $1.68 billion to $369.60 billion in the previous week ended September 16.

By: | Mumbai | Updated: October 1, 2016 6:54 AM
FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen held in the reserves. Gold reserves remained unchanged at USD 21.642 billion, the apex bank said.(Reuters) Forex reserves had dropped by .68 billion to 9.60 billion in the previous week ended September 16.(Reuters)

The country’s foreign exchange reserves rose by $1.17 billion to reach $370.77 billion during the week ended September 23, aided by a rise in foreign currency assets, according to data released on Friday by the Reserve Bank of India.

Forex reserves had dropped by $1.68 billion to $369.60 billion in the previous week ended September 16.

Foreign currency assets (FCAs), which constitute a significant chunk of the overall forex reserves, rose $1.17 billion to $345.24 billion during the reporting week, data from the RBI showed.

FCAs, expressed in dollar terms, account for fluctuations in non-US currencies such as the euro, the pound and the yen, which are held in the reserves.

Gold reserves remained unchanged at $21.64 billion over the week.

India’s special drawing rights with the International Monetary Fund fell by $1 million to $1.49 billion. The reserve position fell by $1.4 million to $2.39 billion, according to the central bank.

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