India’s forex reserves up $1.05 bn

Mumbai, March 30 (IANS) India’s foreign exchange (forex) reserves increased by $1.05 billion to $293.36 billion for the week ended March 22, according to data released by the central bank.

The reserves had increased by $1.96 million to $292.31 billion for the week ended March 15.
The foreign currency assets (FCA) – the biggest component of the forex reserves – grew by $1.06 billion at $260.41 billion, according to the weekly statistical supplement released by the Reserve Bank of India (RBI).
The FCA rose by $1.97 billion at $259.35 billion in the previous week.
The central bank said FCA in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.
Gold reserves value remained the same at $26.29 billion.
However, the special drawing rights (SDRs) decreased by $7.5 million to $4.34 billion during the week under review, while reserves with the International Monetary Fund (IMF) went down by $4.1 million to $2.31 billion.
The SDRs had decreased by $3.3 million to $4.34 billion during the previous week, while reserves with the IMF had went down by $1.7 million to $2.32 billion.