Mumbai, March 19 Foreign exchange reserves increased by $1.277 billion to $279.708 billion for the week ended March 12, mainly on account of revaluation of reserves. The reserves have risen for the second consecutive week.
For the week ended March 5, foreign exchange reserves had increased by $74 million to $278.431 billion.
According to the figures released in the Reserve Bank of India's weekly statistical supplement, foreign currency assets increased by $1.249 billion to $255.321 billion. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies.
Gold reserves remained unchanged at $17.920 billion. SDRs rose by $22 million at $5.069 billion. The reserve position in the IMF was up $6 million to $1.3928 billion.
Source : Business Line