| Date: |
27-02-2012 |
| Subject: |
India's forex reserves rise to $293.44 billion |
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Mumbai: The country's foreign exchange reserves rose by USD 55.8 million to USD 293.44 billion for the week ended February 17, on the back of foreign currency assets (FCAs), the Reserve Bank said on Friday.
The total reserves had gone down by nearly USD 370 million to USD 293.38 billion in the previous reporting week.
FCAs, a major component of the forex reserves, swelled by USD 87.5 million to USD 259.53 billion for the week ended February 17, according to the RBI data released.
FCAs, 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 gold reserves were unchanged at USD 26.73 billion during the week, the apex bank said.
For the week under review, Special Drawing Rights (SDRs) decreased USD 19.3 million to USD 4.455 billion, while India's reserve position in the IMF was also down by USD 12.4 million to USD 2.722 billion, the data showed.
Source : zeenews.india.com
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