India s Forex reserves rise by $1.75 bn
Mumbai Jan 12 (IANS) India s foreign exchange (Forex) reserves rose by $1.75 billion as on January 5 2018 official data showed on Friday.
The Reserve Bank of India s (RBI) weekly statistical supplement showed that the overall Forex reserves rose to $411.12 billion from $409.36 billion reported for the week ended December 29.
India s Forex reserves comprise of foreign currency assets (FCAs) gold reserves 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 -- increased by $2.04 billion to $387.14 billion during the week under review.
Besides the US dollar FCAs consist of nearly 20-30 per cent of major global currencies. It also includes investments in US Treasury bonds bonds of other selected governments and deposits with foreign central and commercial banks.
The country s gold reserves value remained declined by $294.4 million $20.42 billion.
However SDRs inched up by $3.2 million to $1.51 billion. Similarly the country s reserve position with the IMF rose by $4.2 million to $2.03 billion.