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Economy
Forex reserves jump $2.17 billion
India’s foreign exchange reserves soared by $2.172 billion in the week ended December 12 to $316.83 billion. In the previous week, the reserves had dipped by $1.650 billion. The growth in reserves was mainly on the back of a jump in foreign currency assets (FCAs) by $2.405 billion. Besides FCAs, the reserves consist of India’s reserve position in the IMF (down $253.5 million in the reporting week), special drawing rights (up $19.9 million), and gold (unchanged). In the financial year so far, forex reserves have increased by $12.61 billion. Our Bureau
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