Forex reserve up $60.5 mn to $319 bn

The foreign currency assets rose by $75 million to $291.39 billion

India’s foreign exchange reserves rose by $60.5 million to $318.64 billion for the week-ended August 29. Last week, the reserves had fallen by $810.7 million to $318.579 billion, the RBI statement said.

The foreign currency assets rose by $75 million to $291.39 billion, according to Reserve Bank of India data released on Friday.

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

Gold reserves remained unchanged at $21.173 billion in the reporting week.

The special drawing rights were down $10.5 million to $4.386 billion, and India's reserve position with the IMF also dropped by $4 million to $1.687 billion during the week, RBI data showed.