Forex reserves inch up to $319 billion

KOLKATA: After two consecutive weekly falls, Reserve Bank of India's foreign exchange reserves have risen by a modest $43 million in the week to August 15.

The reserves now stand at $319.390 billion, about $2.5 billion below the all-time high seen two years ago.

In local currency, total reserves is at Rs 19,52,700 crore, RBI said in its weekly statistical supplement Friday.

Forex reserves comprise foreign currency assets and gold held by the central bank. Special drawing rights and reserve position with International Monetary Fund (IMF) are also part of the forex reserves.

Foreign currency assets with RBI were at $292.101 billion while gold reserves were valued at $21.174 billion at the end of the reporting week.