| Date: |
17-04-2010 |
| Subject: |
Forex reserves up $932 million |
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Mumbai, April 16 Foreign exchange reserves increased by $932 million to touch $280.028 billion for the week ended April 9, according to the latest figures from the Reserve Bank of India.
The rise in reserves follows a huge fall of $1 billion in the previous week and is mainly on account of currency revaluation, said dealers.
In the previous week reserves fell by $1.151 billion to $277.042 billion.
In the week under consideration foreign currency assets increased by $933 million to $255.663 billion. Foreign currency assets expressed in the dollar terms include the effect of appreciation or depreciation of non-US currencies
Gold and the reserve position in the IMF were unchanged at $17.986 billion and $1.379 billion respectively.
SDRs fell by 1 million to $5 billion.
Next week the rupee's movement will depend on how the euro moves against the dollar and on the domestic equity markets, said forex dealers.
Source : Business Line
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