Forex reserves rise $355.10 mn to $347.56 b as on January 22

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Mumbai | Published: January 30, 2016 12:11:19 AM

Foreign exchange reserves as on January 22 rose by $355.10 million from a week ago to $347.56 billion, according to data from the Reserve Bank of India.

Foreign exchange reserves as on January 22 rose by $355.10 million from a week ago to $347.56 billion, according to data from the Reserve Bank of India.

Foreign currency assets (FCA), which form a key component of the reserves, rose by $371.70 million from the previous week to $325.04 billion.

FCAs are maintained in major currencies like US dollar, euro, pound sterling, Japanese yen, etc. However, foreign exchange reserves are denominated and expressed only in the dollar.

Movements in FCAs occur mainly on account of purchase and sale of foreign exchange by the RBI in the foreign exchange market, income arising out of the deployment of foreign exchange reserves, external aid receipts of the government and revaluation of assets.

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