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The country’s foreign exchange (forex) reserves increased $1.637 billion to $296.631 billion for the week ending December 14, according to the Reserve Bank of India.
During the previous reporting week ending December 7, the country’s forex reserves had seen a rise of $484.2 million to $294.993 billion, the RBI said.
Forex reserves constitute a country’s foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the reserve position in the IMF.
A major component of the forex reserves, FCAs are expressed in the US dollar terms and include the effect of appreciation/depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.
For the week under review, FCAs, rose $1.614 billion to $ 262.119 billion during the week, the RBI said in its ‘Weekly Statistical Supplement’.
The special drawing rights (SDRs) rose $15.4 million to $4.436 billion while the country's reserve position with the IMF was up $7.8 million to $ 2.272 billion, the RBI said.
Gold reserves in the reporting week had remained unchanged.
Since March, total reserves have increased $2.234 billion.
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