Forex Reserves increased by USD 266 million to USD 316.763 billion

India-s Forex Reserves jumped by USD 266 million to USD 316.763 billion for the week ended September 16, as per the recent weekly data released by RBI. This increase was in spite of US dollar selling by the RBI to control continuous rupee depreciation. The forex reserves were dropped by a whopping USD 4.288 billion during the previous week.


This increase was mainly due to revaluation of the Foreign Currency Assets (FCA), which was increased by USD 202 million to USD 280.903 billion for the same week. The SDRs (Special Drawing Rights) was dropped by USD 2 million and the Reserve portion with IMF was increased by USD 62 million respectively for the same week. The value of Gold reserve remained unchanged at USD 28.319 billion.