)
Don't want to miss the best from Business Standard?
India's foreign exchange reserves shot up by $205.8 million to $278.81 billion in the week ended August 16 due to a sharp rise in the foreign currency assets (FCAs), the Reserve Bank said today.
The reserves had risen $1.43 billion to $278.6 billion in the previous reporting week.
FCAs, a major component of forex reserves, rose by $211.7 million to $251.561 billion, it said.
Also Read
The assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies, such as the euro, pound and yen, held in the reserves.
During the week, gold reserves remained unchanged at $20.747 billion, the central bank said.
For the week under review, the special drawing rights (SDRs) were down by $3.9 million to $4.394 billion, while the country's reserve position with the International Monetary Fund (IMF) fell by $2 million to $2.105 billion, the RBI data showed.
