Forex reserves up by $ 625.5 million to $ 360.296 billion

MUMBAI: Foreign exchange reserves rose by $ 625.5 million to $ 360.296 billion in the week to December 30, helped by an increase in foreign currency assets, the Reserve Bank said today.

In the previous week, the reserves had declined by $ 935.2 million to $ 359.671 billion.

The reserves had touched a life-time high of $ 371.99 billion in the week to September 30, 2016.

Foreign currency assets ( FCAs), a major component of the overall reserves, increased by $ 612.4 million to $ 336.582 billion in the reporting week.

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

Gold reserves remained steady at $ 19.982 billion in the reporting week, the RBI said.

The special drawing rights with the International Monetary Fund rose by $ 4.9 million to $ 1.432 billion, while India's reserve position with the Fund, too, increased by $ 8.2 million to $ 2.299 billion, RBI said.