Forex reserves up $1.196 bn to $293.84 bn.

Mumbai: The foreign exchange reserves rose by $1.196 billion to touch $293.84 billion during the week ended April 5 on the back of increase in core currency assets, the Reserve Bank of India (RBI) said on Friday. The total reserves stood at $292.647 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were up by $1.787 billion to $261.513 billion for the week ended April 5, the RBI’s weekly statistical supplement said on Friday.

Foreign currency assets expressed in US 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 apex bank said.

The gold reserves declined by $600 million to $25.69 billion during the week, the apex bank said. For the week under review, the special drawing rights (SDRs) were up by $6.1 million to $4.33 billion, while the country’s reserve position with the IMF was also up $3.2 million to $2.303 billion, the apex bank data showed.


Source : news.in.msn.com