| Date: |
08-10-2011 |
| Subject: |
India's Forex Reserves dip $1.2 billion |
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MUMBAI: India's foreign exchange reserves dipped $1.2 billion during the week ended September 30, largely on account of revaluation of nondollar assets in reserves.
Foreign exchange reserves are at $311.5 billion. Among its various components, foreign currency assets comprising dollar, euro, yen and pound, among others, dipped $1,225 million while the value of gold rose $348 million. The value of special drawing rights ( SDR), the reserve currency with IMF, rose $7 million while the reserve capital with IMF dipped $345 million.
As per the updated money supply figures, the total money supply in the system amounted to Rs 68,58,829 crore as on September 23, down Rs 2,130 crore over the previous fortnight's levels. This has been largely due to a dip in currency with the public and term deposits during the fortnight.
Source : economictimes.indiatimes.com
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