Forex reserves move up $2 bn to $369.95 bn
Mumbai, Apr 7 (PTI) India's forex reserves went up by USD 2.02 billion to USD 369.95 billion in the week to March 31 on a huge jump in currency assets, the Reserve Bank said today. The forex kitty had increased by USD 1.15 billion to USD 367.93 billion in the previous reporting week. Foreign currency assets (FCAs), a major component of the overall reserves, rose by USD 2.08 billion to USD 346.32 billion in the reporting week, the RBI said. Expressed in US dollar terms, FCAs include the effect of appreciation and depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves. Gold reserves moved down by USD 45 million to USD 19.87 billion, it said. The special drawing rights with the International Monetary Fund fell USD 5.1 million to USD 1.45 billion while India's reserve position with the IMF, too, dropped by USD 10.7 million to USD 2.32 billion, the apex bank added.
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