Foreign exchange reserves up to $290.46 b

The country’s foreign exchange reserves rose by US$282.3 million to US$290.46 billion on the back of a healthy increase in the gold reserves.

The total reserves had risen US$1.26 billion to USD 290.18 billion in the previous reporting week. Foreign currency assets, a major component of the forex reserves, were down by US$252.4 million to US$257.62 billion for the week ended August 31, the Reserve Bank of India said.

After remaining unchanged for many weeks, the gold reserves rose by a stunning US$524.7 million to US$26.24 billion.

For the week under review, the special drawing rights (SDRs) were up by US$16.2 million to US$4.393 billion, while the country’s reserve position with the IMF was down US$22 million to US$2.209 billion, the RBI data showed.