Forex reserves up $458 mn

Foreign currency assets rose by $452.5 mn to $329.97 bn

India’s foreign exchange reserves rose $458 million for the week ended October 16 to $353.5 billion, show the Reserve Bank of India’s data released on Friday.

Foreign currency assets, a key component of foreign exchange reserves, rose by $452.5 million to nearly $330 billion.  Gold reserves stood unchanged at $18.2 billion.

The special drawing rights rose $4.2 million to $4.1 billion, while the country’s reserve position with the International Monetary Fund stood at $1.3 billion, recording a rise of $1.3 million.