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| Edited By: |Source: PTI |Updated: Mar 17, 2018, 04:47 AM IST
India's foreign exchange reserves grew by nearly $2.48 billion to $281.901 billion for the week ended July 16 from the previous week's $279.422 billion, backed by a healthy rise in foreign currency assets.
Foreign currency assets (FCAs), a major component of the reserves, grew by nearly $2.41 billion during the week to $255.68 billion. It was at $253.27 billion the week ago, the Reserve Bank of India said in its weekly report today.
FCAs, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as euro, sterling and yen, held in the reserves, the RBI said.
During the week under review, the gold reserves remained static at $19.89 billion, while the Special Drawing Rights (SDRs) stood at $4.987 billion, down from $4.932 billion in the preceding week, the data showed.
India's reserve position in the International Monetary Fund also inched up to $1.343 billion compared to $1.328 billion the week before, the central bank said.
