India s Forex reserves surge by $1.25 bn

Mumbai April 28 (IANS) India s foreign exchange (Forex) reserves rose by $1.25 billion as on April 21 2017 official data showed on Friday.

According to the Reserve Bank of India s weekly statistical supplement the overall Forex reserves increased to $371.13 billion from $369.88 billion reported for the week ended April 14.

India s Forex reserves comprise of foreign currency assets (FCAs) gold 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 -- augmented by $1.23 billion to $347.48 billion during the week under review.

Besides the US dollar FCAs consist of nearly 20-30 per cent of major (non-US) global currencies. The FCAs also include investments in US Treasury bonds bonds of other selected governments deposits with foreign central and commercial banks.

The country s gold reserves were stagnant at $19.86 billion.

However SDRs value gained $5 million to $1.45 billion. The country s reserve position with the IMF inched higher by $7.7 million to $2.33 billion.

--IANS
rv/vt