Forex reserves jumps over $2-bn to $320.4 bn

MUMBAI: The foreign exchange reserves rose by USD 2.032 billion to USD 320.39 billion on the back of a jump in foreign currency assets.

Total forex reserves had risen by USD 858 million in the previous reporting week to USD 318.358 billion.

Foreign currency assets, the biggest component of the foreign reserves, were up by USD 1.931 billion for the reporting week to USD 284.445 billion for the week ended October 28, the Reserve Bank said in its weekly data released this evening.

Foreign currency assets 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, the apex bank said.

Gold reserves remained unchanged at 28.667 billion, the apex bank data said. Both the special drawing rights (SDRs) and reserve position in the IMF were up during the reporting week, RBI said.

The SDRs increased USD 64 million to USD 4.606 billion while India's reserve position in the IMF also increased by USD 37 million to USD 2.672 billion, the RBI data showed.