Forex reserves move up by $1.166 billion to $370.766 billion

Mumbai: India's foreign exchange reserves increased by USD 1.166 billion to reach USD 370.766 billion for the week to September 23 on account of rise in foreign currency assets, as per RBI data.

In the previous week, the reserves had declined by USD 1.679 billion to USD 369.6 billion. They had touched life-time high of USD 371.279 billion in the week to September 9.

Foreign currency assets (FCAs), a major component of the overall reserves, rose by USD 1.168 billion to USD 345.242 billion, the Reserve Bank said.

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

Gold reserves remained unchanged at USD 21.642 billion, the apex bank said.

The country's special drawing rights with the International Monetary Fund dipped by USD 1 million to USD 1.490 billion, while the reserve position with the fund was down by USD 1.4 million to USD 2.390 billion, RBI said.