India s Forex reserves rise by over $4 bn

Mumbai Feb 9 (IANS) India s foreign exchange (Forex) reserves rose by $4.12 billion as on February 2 official data showed on Friday.

The Reserve Bank of India s (RBI) weekly statistical supplement showed that the overall Forex reserves rose to $421.91 billion from $417.78 billion reported for the week ended January 26.

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 $3.02 billion to $396.76 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.

Similarly the country s gold reserves value rose by $1.09 billion to $21.51 billion.

The SDRs value inched up by $3.2 million to $1.54 billion while the country s reserve position with the IMF rose by $4.3 million to $2.08 billion.

--IANS
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