India's Forex reserves rises by over $150 mn

India`s foreign exchange (forex) reserves increased by $150.2 million during the week ended February 15, official data showed on Friday. According to the Reserve Bank of India`s weekly statistical supplement, the overall forex reserves rose to $398.27 billion from $398.12 billion reported for the week ended February 8.

India`s forex reserves comprise of Foreign Currency Assets (FCAs), gold reserves, Special Drawing Rights (SDRs) and India`s position with the International Monetary Fund (IMF). On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $88.9 million to $371.07 billion.

Besides the US dollar, FCAs consist of 20-30 per cent of other major global currencies. The RBI`s weekly data showed that the value of the country`s gold reserves rose by $78.2 million at $22.76 billion.

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The SDR value inched down by $7.8 million to $1.45 billion, while the country`s reserve position with the IMF declined by $9.1 million to $2.98 billion.