| Date: |
20-04-2010 |
| Subject: |
Important to have adequate forex reserves: RBI |
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Mumbai, Apr 19 (PTI) Foreign exchange reserves stood at USD 280 billion as on April 9, the Reserve Bank said.
During 2009-10, India's foreign exchange reserves increased by USD 27.1 billion to USD 279.1 billion, the RBI said in its Macroeconomic and Monetary Developments in 2009-10 released here today.
Foreign currency assets (FCAs) increased by USD 13.3 billion during the year.
Further the Reserve Bank purchased 200 tonnes of gold from the IMF as a part of its foreign exchange reserve management operations, it said.
"For dealing with external shocks transmitting through various accounts of the balance of payments, it is important to have adequate foreign exchange reserves," the RBI said.
Source : PTI
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