Forex reserves rises by $1.589 bn to $349.152 bn last week

FCAs, a major component of overall reserves, increased by $1.584 billion to $326.631 billion in the reporting period

FP Archives|Feb 05, 2016, 18:16:17 IST

Country's foreign exchange reserves rose by $1.589 billion to $349.152 billion in the week to January 29, helped by an increase in foreign currency assets (FCAs), according to the Reserve Bank.In the previous week, the reserves had increased by $355.1 million to $347.562 billion. FCAs, a major component of overall reserves, increased by $1.584 billion to $326.631 billion in the reporting period, RBI said in a release today.[caption id="attachment_2614450" align="alignleft" width="380"] Reuters[/caption]FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.The gold reserves remained unchanged at $17.240 billion in the period.India's special drawing rights with the International Monetary Fund (IMF) grew by $3.8 million to $3.988 billion in the week, while country's reserve position with the Fund was up by $1.2 million to $1.292 billion, the apex bank stated.PTI

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