| Date: |
06-09-2014 |
| Subject: |
Forex Reserves Up By USD 60.5 Million to USD 318.64 Billion |
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MUMBAI: The country's foreign exchange reserves surged by USD 60.5 million to USD 318.64 billion for the week ended August 29, as foreign currency assets rose, the Reserve Bank of India (RBI) said today.
Last week, the reserves had fallen by USD 810.7 million to USD 318.579 billion, the RBI statement said.
Foreign currency assets (FCAs), a major constituent of overall reserves, increased by USD 75 million to USD 291.393 billion in the period, the statement said.
FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen held in reserves.
Gold reserves remained unchanged at USD 21.173 billion in the reporting week.
The special drawing rights were down USD 10.5 million to USD 4.386 billion, and India's reserve position with the IMF also dropped by USD 4 million to USD 1.687 billion during the week, RBI data showed.
Source : newindianexpress.com
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