India's forex reserves up at $315.55 billion

The country's forex reserves rose by $419.4 million to $315.551 billion in the week to November 14, driven by a rise in foreign currency assets.

According to data released by the Reserve Bank on Friday, reserves had dipped by $778.4 million to $315.131 billion in the previous week.

The foreign currency assets, a major constituent of the overall reserves, increased by $422.7 million to $290.062 billion, the central bank said.

Foreign currency assets, 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 reserves.

Despite a spike in gold prices, the country's gold reserves remained unchanged at $19.738 billion.

The special drawing rights (SDRs) were down by $2.4 million to $4.229 billion, while the country's reserve position with the IMF declined by $0.9 million to $1.521 billion during the week, the RBI data showed.