India’s foreign exchange reserves increased $359.4 million in the week ended October 19 to $295.235 billion.
In the reporting week, the increase in reserves was mainly on account of the foreign currency assets increasing by $351.3 million.
FCA expressed in US dollar terms includes the effect of appreciation/ depreciation of non-US currencies (such as Euro, Sterling, and Yen) held in the reserves.
The reserves comprise FCA, gold reserves, special drawing rights (SDRs) and Reserve Position in the International Monetary Fund (IMF).
During the week, gold reserves remained unchanged at $28.132 billion. SDRs and Reserve Position in the IMF nudged up $4.8 million and $2.5 million respectively, according to the Reserve Bank of India’s weekly statistical supplement.
As on October 19, SDRs and Reserve Position in the IMF stood at $4.453 billion and $2.271 billion respectively.
Since December-end 2011, India’s forex reserves have declined $1.453 billion.