India’s forex reserves rise by $ 98.6 million to $ 364.109 billion
Mumbai, March 17, 2017
Maintaining an uptrend for the third consecutive week, India’s foreign exchange reserves rose by $ 98.6 million to $ 364.109 billion during the week ended March 10, the Reserve Bank of India (RBI) said here today.
The country’s forex reserves had jumped by $ 1.218 billion to $ 364.01 billion in the previous week.
In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 95.7 million to $ 340.456 billion during the week.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
According to the bulletin, the country’s gold reserves remained unchanged at $ 19.914 billion during the week, while its special drawing rights (SDRs) went up by $ 1.1 million to $ 1.435 billion.
India’s reserve position in the International Monetary Fund (IMF) increased by $ 1.8 million to $ 2.305 billion during the week, the bulletin added.