India's forex reserves rise to $282.95 billion

The foreign exchange reserves rose for the fourth consecutive week with the week to October 25 adding another $1.828 billion taking the overall forex kitty to $282.95 billion, the Reserve Bank said on Friday.

In the previous reporting week, reserves had increased by $1.9 billion at $281.12 billion.

Foreign currency assets (FCAs), which form the largest chunk of the reserves, jumped $1.8 billion to $254.50 billion in the week under review, the RBI said.

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 the reserves.

The gold reserves remained unchanged at $21.765 billion in the week under review for the fifth week, while the special drawing rights grew by $13.7 million to $4.47 billion, according to the RBI data.

The country's reserve position with the IMF rose by $6.9 million to $2.213 billion in week to October 25, the data showed.