India's forex reserves rise to over $448 bn

Mumbai, Nov 22 (IANS) India's foreign exchange reserves rose by $441 million during the week ended November 15, official data showed on Friday.According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves increased to $448.24 billion from $447.80 billion reported for the week ended November 8.India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India's reserve position with the International Monetary Fund (IMF).On a weekly basis, FCAs -- the largest component of the forex reserves -- edged higher by $643 million at $416.47 billion.However, the RBI's weekly data showed that the value of the country's gold reserves went down by $200 million to $26.70 billion.Similarly, the SDR value inched down by $5 million to $1.43 billion, whereas, the country's reserve position with the IMF rose by $3 million to $3.63 billion.
--IANS rv/sn