India's forex reserves at $354.43 billion as of August 14: RBI

MUMBAI: After declining for two straight weeks, the foreign exchange reserves rose by a healthy USD 1.086 billion to touch USD 354.433 billion for the week to August 14, led by an increase in foreign currency assets.

The reserves were down by USD 113.5 million to USD 353.347 billion in the previous reporting week after touching an all-time high of USD 355.46 billion in the week to June 19.

Foreign currency assets (FCAs), a major component of overall reserves, rose by USD 1.039 billion to USD 330.836 billion in the reporting week, according to the latest Reserve Bank data.

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

Despite a massive drop in gold prices, the reserves of the yellow metal stood unchanged at USD 18.250 billion.

India's special drawing rights with the International Monetary Fund rose USD 35.4 million to touch USD 4.055 billion in the week under review, while the nation's reserve position with the Fund also rose by USD 11.2 million to USD 1.291 billion, the apex bank said.