The country's foreign exchange reserves rose by $488.2 million to $401.385 billion in the week to December 15 on account of rising in foreign currency assets, the Reserve Bank of India said on Friday. In the previous week, the reserves had declined by $1.044 billion to $400.897 billion. In the reporting week, the foreign currency reserves, a major component of the overall reserves, rose by $478.3 million to $376.906 billion, according to RBI data. Expressed in US dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.
Gold reserves remained unchanged at $ 20.703 billion. The special drawing rights with the International Monetary Fund (IMF) rose by $3.8 million to $1.5 billion. The country's reserve position with the IMF also increased by $6.1 million to $2.275 billion, the central bank said.