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Last updated: 23 Feb, 2019  

FDI.9.Thmb.jpg Forex reserves rises by $150 mn to $398 bn

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SME Times News Bureau | 23 Feb, 2019

The Reserve Bank of India on Friday stated that India's foreign exchange (forex) reserves increased by $150.2 million during the week ended February 15.

According to weekly statistical supplement released by RBI, the overall forex reserves rose to $398.27 billion from $398.12 billion reported for the week ended February 8.

Forex reserves comprise of Foreign Currency Assets (FCAs), gold reserves, Special Drawing Rights (SDRs) and India's position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $88.9 million to $371.07 billion.

Besides the US dollar, FCAs consist of 20-30 per cent of other major global currencies.

The RBI's weekly data showed that the value of the country's gold reserves rose by $78.2 million at $22.76 billion.

The SDR value inched down by $7.8 million to $1.45 billion, while the country's reserve position with the IMF declined by $9.1 million to $2.98 billion.

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