India's forex reserves up at $353.648 billion

India’s foreign exchange reserves rose by $321.7 million to $353.648 billion in the week to July 24 on account of increase in foreign currency assets, the Reserve Bank said on Friday.

In the previous week, reserves had declined by $1.03 billion to $353.33 billion.

They had touched a life-time high of $355.46 billion in the fortnight ended June 19.

Foreign currency assets (FCAs), which are a major component of overall reserves, rose by $314.2 million to $329.245 billion in the week, the data showed.

FCAs, 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 the reserves.

The country's gold reserves remained unchanged at $19.074 billion.

The special drawing rights with the International Monetary Fund were up by $5.8 million to $4.024 billion in the week under review, while the country's reserve position with the Fund also rose by $1.8 million to $1.304 billion, RBI said.