Foreign Exchange Reserves of India reached 320 billion US dollars

Foreign Exchange Reserves of India reached 320 billion US dollars on the back of a massive jump in foreign currency assets. This was revealed by Reserve Bank of India (RBI) data on Foreign Exchange released on 26 December 2014.

As per the data on foreign exchange
• During the week 8 December to 19 December 2014 the flow of foreign exchange hit 3.163 billion US dollars enabling total foreign exchange reserves to reach 319.997 billion US dollars.
• The foreign currency assets (FCAs), which are a major constituent of overall reserves, jumped by 3.310 billion US dollars to reach 295.670 billion US dollars during the week ended 19 December 2014. FCA is expressed in dollar terms that include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen, held in reserves.
• The gold reserves remained unchanged at 18.985 billion US dollars.
• Special Drawing Rights (SDRs) decreased by 29.2 million US dollars to touch 4.199 billion US dollars. With this, India’s SDR with the International Monetary Fund (IMF) dipped by 117.6 million US dollars to reach 1.142 billion US dollars.
• During the week ending on 25 July 2014 the reserves had touched 320.56 billion US dollars, which is little less than the life-time high of 320.79 billion US dollars on 2 September 2011.