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India's forex reserves surge by $2.53 bn

India's forex reserves rose by $2.53 billion during the week ended March 18, official data showed

Policy Pulse
Publish Date: Mar 26 2016 12:10PM | Updated Date: Mar 26 2016 12:10PM

India's forex reserves surge by $2.53 bn

India's forex reserves rose by $2.53 billion during the week ended March 18, official data showed.

 
According to Reserve Bank of India's weekly statistical supplement, Forex reserves rose by $2.53 billion to $355.94 billion.
 
The overall foreign exchange reserves had increased by $2.54 billion to touch $353.40 billion for the week ended March 11.
 
Foreign currency assets (FCA), increased by $2.50 billion to $332.50 billion during the week under review.
 
During the week ended March 11, the FCA had augmented by $2.52 billion to $329.99 billion.
 
Individual movements of these currencies against US dollar impacts overall foreign reserves value.
 
The country's gold reserves remained stationary at $19.32 billion.
 
But special drawing rights (SDRs) gained by $12.1 million to $1.49 billion.
 
For the week ended March 11, the SDRs inched up by $7.2 million to $1.48 billion
 
Same way, country's reserve position with the IMF (International Monetary Fund) edged higher by $21.1 million to $2.61 billion.
 
Reserve position with IMF had surged $12.7 million to $2.59 billion for the week ended March 11.