India s Forex reserves rise by $3.53 bn

Mumbai Dec 29 (IANS) India s foreign exchange (Forex) reserves rose by $3.53 billion as on December 22 2017 official data showed on Friday.

The Reserve Bank of India s (RBI) weekly statistical supplement showed that the overall Forex reserves rose to $404.92 billion from $401.38 billion reported for the week ended December 15.

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 $3.77 billion to $380.68 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 rose by $12.6 million to $20.71 billion while SDRs inched up by $1.8 million to $1.50 billion.

However the country s reserve position with the IMF declined by $252.2 million to $2.02 billion.

--IANS
rv/vd