Foreign exchange kitty up by $1b at $308 b

Foreign exchange kitty up by $1b at $308 b

The total foreign exchange reserves had fallen by USD 2.042 billion to USD 307.49 billion in the previous reporting week.

FCAs, the largest component of the total reserves, increased by USD 1.06 billion to USD 277.20 billion for the week ended May 20, the Reserve Bank said in its weekly data
released today.

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

Gold reserves unchanged

India's gold reserves were unchanged at USD 23.79 billion during the reporting week, the apex bank's data said.

However, both the special drawing rights (SDRs) and reserve position in the IMF witnessed a decline during the week, the RBI said.

The SDRs decreased by USD 11 million to USD 4.585 billion, while India's reserve position in the IMF was down by USD 7 million to USD 2.957 billion, the RBI data showed.