The country’s forex reserves rose by USD 419.4 million to USD 315.551 billion in the week to November 14, driven by a rise in foreign currency assets.
According to data released by the Reserve Bank today, reserves had dipped by USD 778.4 million to USD 315.131 billion in the previous week.
The foreign currency assets, a major constituent of the overall reserves, increased by USD 422.7 million to USD 290.062 billion, the central bank said.
Foreign currency assets, 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 reserves.
Despite a spike in gold prices, the country’s gold reserves remained unchanged at USD 19.738 billion.
The special drawing rights (SDRs) were down by USD 2.4 million to USD 4.229 billion, while the country’s reserve position with the IMF declined by USD 0.9 million to USD 1.521 billion during the week, the RBI data showed.