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India’s foreign exchange reserves rise to $281.12bn
October 26, 2013, 4:45 pm

Forex reserves had risen by $1.51 billion to touch $279.24 billion for the week ended October 11  [AP]

Forex reserves had risen by $1.51 billion to touch $279.24 billion for the week ended October 11 [AP]

India’s foreign exchange (forex) reserves gained $1.88 billion to touch $281.12 billion for the week ended October 18, official data showed.

Forex reserves had risen by $1.51 billion to touch $279.24 billion for the week ended October 11.

According to the Reserve Bank of India (RBI) Weekly Statistical Supplement, India’s foreign currency assets (FCA), the biggest component of the forex reserves, increased by $1.84 billion to $252.69 billion for the week under review.

RBI said the FCA expressed in US dollar terms included the effect of appreciation or depreciation of non-U.S. currencies held in reserve such as the pound sterling, euro and yen.

The FCA had increased by $1.52 billion to $250.85 billion for the week ended October 11.

The value of India’s gold reserves remained the same. The reserves had increased by $41.3 million and stood at $21.76 billion during the week ended October 11.

Foreign exchange reserves include India’s Reserve Tranche position in the International Monetary Fund (IMF).

For the week ended October 11, the country’s reserve with IMF had declined by $4.7 million to $2.19 billion and the value of the SDRs fell by $9.6 million to $4.43 billion.

 

Source: Agencies

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