Forex reserves up by USD 1.589 bn to USD 349.152 bn

Country's foreign exchange reserves rose by USD 1.589 billion to USD 349.152 billion in the week to January 29, helped by an increase in foreign currency assets (FCAs), according to the Reserve Bank.
In the previous week, the reserves had increased by USD 355.1 million to USD 347.562 billion.
FCAs, a major component of overall reserves, increased by USD 1.584 billion to USD 326.631 billion in the reporting period, RBI said in a release today.
FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.

The gold reserves remained unchanged at USD 17.240 billion in the period.
India's special drawing rights with the International Monetary Fund (IMF) grew by USD 3.8 million to USD 3.988 billion in the week, while country's reserve position with the Fund was up by USD 1.2 million to USD 1.292 billion, the apex bank stated.