India’s foreign exchange, Forex reserves increase by $1.25 billion

forexAccording to the Reserve Bank of India’s weekly statistical supplement, India’s foreign exchange (Forex) reserves have increased by $1.25 billion to reach $371.13 billion from $369.88 billion as on April 21, 2017. The current reserves are just short of a lifetime high of USD 371.99 billion reached in the week to September 30, 2016.

The components of India’s Foreign Exchange Reserves include: Foreign currency assets (FCAs) Gold Special Drawing Rights (SDRs) RBI’s Reserve position with International Monetary Fund (IMF) FCAs constitute the largest component of the Forex Reserves. It was augmented by $1.23 billion to $347.48 billion as on April 21, 2017.

FCAs consist of US dollar and other major non-US global currencies. It also comprises of investments in US Treasury bonds, bonds of other selected governments, deposits with foreign central and commercial banks. The gold reserves stand at $19.86 billion. SDRs’ value has increased $5 million to $1.45 billion. RBI’s reserve position with the IMF stands to $2.33 billion.

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