| Date: |
18-10-2014 |
| Subject: |
India forex reserves up $1.3 bn to $312.737 bn |
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After falling for five straight weeks, the country's reserves rose by whopping USD 1.309 billion to USD 312.737 billion in the week to October 10, on account of rise in foreign currency assets, according to data released by the RBI today.
In the previous week, reserves had plunged USD 2.754 billion to USD 311.427 billion.
In the week to July 25, 2014, the reserves had touched USD 320.56 billion, an inch away from the life-time high of USD 320.79 billion on September 2, 2011.
The foreign currency assets, a major constituent of overall reserves, increased by USD 1.297 billion to USD 286.885 billion, RBI said.
Foreign currency assets, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen held in reserves. The country's gold reserves remained unchanged at USD 20.013 billion.
Special Drawing Rights (SDRs) were up USD 9.3 million to USD 4.293 billion, while the country's reserve position with the IMF rose USD 3.3 million to USD 1.544 billion during the week, the RBI data showed.
Source : moneycontrol.com
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