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India’s foreign exchange reserves rose by $920.6 million

Country’s foreign exchange reserves rose by $920.6 million to $355.353 billion in the week to August 21, on account of higher foreign currency assets.

In the previous reporting week, the reserves had increased by a healthy $1.086 billion to touch $354.433 billion. The reserves had touched an all-time high of $355.46 billion in the week to June 19.

Foreign currency assets (FCAs), a major component of overall reserves, were up by $894.3 billion to $331.731 billion in the reporting week, according to the latest Reserve Bank data

FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.
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The gold reserves stood unchanged at $18.250 billion.

India’s special drawing rights with the International Monetary Fund rose $19.9 million to touch $4.075 billion in the week under review, while the nation’s reserve position with the Fund were up by $6.4 million to $1.297 billion, the apex bank said.

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