India s Forex reserves rise by $4.44 bn

Mumbai Jan 5 (IANS) India s foreign exchange (Forex) reserves rose by $4.44 billion as on December 29 2017 official data showed on Friday.

The Reserve Bank of India s (RBI) weekly statistical supplement showed that the overall Forex reserves rose to $409.36 billion from $404.92 billion reported for the week ended December 22.

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 $4.42 billion to $385.10 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 stagnant at $20.71 billion while SDRs inched up by $8.9 million to $1.51 billion.

Similarly the country s reserve position with the IMF rose by $12.1 million to $2.03 billion.

--IANS
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