Forex reserves jump nearly $2 bn to $292 bn till March

Mumbai: India’s foreign exchange reserves rose $1.96 billion to $292.32 billion in the week ended March 15 on the back of a healthy jump in currency assets, the Reserve Bank said today.

The reserves had slid by $224 million to $290.35 billion in the previous reporting week. Foreign currency assets (FCAs), a major component of the forex reserves, were up $1.97 billion to $259.35 billion for the week ended March 15, the RBI said.

[caption id=“attachment_672002” align=“alignleft” width=“380”] The reserves had slid by $224 million to $290.35 billion in the previous reporting week. AFP[/caption]

FCAs, expressed in US 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 $26.292 billion, it said.

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For the week under review, India’s special drawing rights decreased $3.3 million to $4.349 billion, while its reserve position in the IMF slid $1.7 million to $2.321 billion, the apex bank data showed.

PTI