Forex reserves up $687.9 million to $359.842 billion

Forex reserves up $687.9 million to $359.842 billion  Mumbai: Country's foreign exchange reserves rose by USD 687.9 million to USD 359.842 billion in the week to January 13 helped by increase in the foreign currency assets, the Reserve Bank said today. In the previous week, forex reserves had fallen by USD 1.14 billion to USD 359.155 billion. Foreign currency assets (FCAs), a major component of

the overall reserves, increased by USD 683.7 million to USD 337.508 billion in the reporting week.

FCAs, expressed in US dollar terms, include the effects of appreciation/depreciation of non-US currencies such as the euro, pound and the yen held in the reserves.

Gold reserves, which had fallen in the previous week, remained unchanged at USD 18.584 million, the RBI said.

The special drawing rights with the International Monetary Fund rose by USD 1.5 million to USD 1.439 billion, while India's reserve position with the Fund, too, increased by USD 2.7 million to USD 2.311 billion, RBI said.