Forex reserves continue to rise; jump $1.8 bn to $282.95 bn

The foreign exchange reserves rose for the fourth consecutive week with the week to October 25 adding another USD 1.828 billion taking the overall forex kitty to USD 282.95 billion, the Reserve Bank said today.
In the previous reporting week, reserves had increased by USD 1.9 billion at USD 281.12 billion.
Foreign currency assets (FCAs), which form the largest chunk of the reserves, jumped USD 1.8 billion to USD 254.50 billion in the week under review, the RBI said.
Foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves.

The gold reserves remained unchanged at USD 21.765 billion in the week under review for the fifth week, while the special drawing rights grew by USD 13.7 million to USD 4.47 billion, according to the RBI data.
The country's reserve position with the IMF rose by USD 6.9 million to USD 2.213 billion in week to October 25, the data showed.