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Forex reserves increase by $889.4 mn to $369.887 bn

Press Trust of India/Mumbai 22 Apr 17 | 07:57 AM

India's foreign exchange reserves rose by $889.4 million to $369.887 billion during the week ended April 14, helped by increase in foreign currency assets, the Reserve Bank said.

They had declined by $956.4 million to $368.998 billion in the previous reporting week.

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The reserves had touched a life-time high of $371.99 billion in the week to September 30, 2016.

Foreign currency assets (FCAs), a major component of the overall reserves, surged by $881 million to $346.248 billion in the reporting week, RBI said.

Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.

Gold reserves remained unchanged at $19.869 billion, the apex bank said.

The special drawing rights with the International Monetary Fund was up by $3.1 million to $1.446 billion.

India's reserve position with the Fund, too, rose by $5.3 million to $2.323 billion, RBI said.

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