Mumbai April 21 (IANS) India s foreign exchange (Forex) reserves rose by $889.4 million as on April 14 2017 official data showed on Friday.
According to the Reserve Bank of India s weekly statistical supplement the overall Forex reserves increased to $369.88 billion from $368.99 billion reported for the week ended April 7.
India s Forex reserves comprise of foreign currency assets (FCAs) gold special drawing rights (SDRs) and the RBI s position with the International Monetary Fund (IMF).
Segment-wise FCAs -- the largest component of the Forex reserves -- augmented by $881 million to $346.24 billion during the week under review.
Apart from the US dollar FCAs consist of nearly 20-30 per cent of major (non-US) global currencies. The FCAs include investments in US Treasury bonds bonds of other selected governments deposits with foreign central and commercial banks.
The country s gold reserves were stagnant at $19.86 billion.
However SDRs value gained $3.1 million to $1.44 billion. The country s reserve position with the IMF inched higher by $5.3 million to $2.32 billion.
--IANS
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India s Forex reserves surge by $889 mn
