Mumbai: The foreign exchange reserves rose by USD 1.093 billion to USD 314.92 billion in the week ended May 16, on account of increase in currency assets. In the previous week, the total reserves had risen by USD 1.97 billion to USD 313.83 billion. Foreign currency assets (FCAs), a major constituent of the overall reserves, increased by USD 1.266 billion to USD 287.816 billion in the period, RBI said.
Foreign currency assets, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in reserves. The gold reserves remained unchanged at USD 20.965 billion, as per the RBI data. The special drawing rights declined by USD 14.5 million to USD 4.462 billion, and the country's reserve position with the IMF also dipped USD 158.1 million to USD 1.680 billion in the period, the RBI weekly data showed.
