India's forex reserves rise by $282.3 mn to $290.46 bn.

The country's foreign exchange reserves rose by $282.3 million to $290.46 billion on the back of a healthy increase in the gold reserves.

The total reserves had risen $1.26 billion to $290.18 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were down by $252.4 million to $257.62 billion for the week ended August 31, the Reserve Bank said today.

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.

After remaining unchanged for many weeks, the gold reserves rose by a stunning $524.7 million to $26.24 billion, the apex bank said.

For the week under review, the special drawing rights (SDRs) were up by $16.2 million to $4.393 billion, while the country's reserve position with the IMF was down $22 million to $2.209 billion, the apex bank data showed.

Source : profit.ndtv.com