MUMBAI: India’s foreign reserves shot up by USD 495.5 million to USD 314.177 billion in the week to October 24 due to rise in a key constituent of the assets, according to data released by RBI today.
In the previous week, the reserves had increased by USD 945.6 million to USD 313.682 billion.
Foreign currency assets (FCAs), a major constituent of overall reserves, increased by USD 532.2 million to USD 288.332 billion, RBI said.
FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen held in reserves.
India’s gold reserves remained unchanged at USD 20.013 billion.
Special Drawing Rights (SDRs) were down by USD 27 million to USD 4.289 billion, while the country’s reserve position with the IMF dipped by USD 9.7 million to USD 1.542 billion during the week, the RBI data showed.–PTI
