Forex reserves up $631.5 million to $352.02 billion

Mumbai: Country's foreign exchange reserves rose by USD 631.5 million to USD 352.02 billion in the week to September 18 due to rise in foreign currency assets, according to RBI data.

In the previous week, the reserves had jumped by a healthy USD 2.358 billion to USD 351.389 billion.

Foreign currency assets (FCAs), a major component of overall reserves, grew by USD 592.7 million to USD 328.560 billion in the reporting week, the RBI said in a statement.

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 USD 18.035 billion.

India's special drawing rights with the International Monetary Fund jumped by USD 29.3 million to touch USD 4.097 billion in the week under review, while the nation's reserve position with the Fund rose by USD 9.5 million to USD 1.328 billion, the apex bank said.