HindustanTimes Wed,01 Oct 2014

India's forex reserves up by $1.45bn

IANS  Mumbai, December 01, 2012
First Published: 16:10 IST(1/12/2012) | Last Updated: 16:17 IST(1/12/2012)

India's foreign exchange (forex) reserves went up by $1.45 billion to $294.98 billion for the week ended Nov 23, the Reserve Bank of India (RBI) data show.


The reserves had gone down by $32.7 million to $293.52 billion in the previous week. The forex had declined by $781.5 million to $293.55 billion for the week ended Nov 9.

The foreign currency assets (FCA) - the biggest component of the forex reserves - increased by 1.44 billion at $260.13 billion, according to the weekly statistical supplement released by the RBI.

The central bank said FCA in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.

However, the gold reserves value had remained unchanged at $28.18 billion since the week ended Nov 2, when the value of gold reserves rose by 56.4 million at $28.18 billion.

The special drawing rights (SDRs) increased by $4.8 million to $4.40 billion during the week under review, while reserves with the International Monetary Fund (IMF) were up by $2.5 million to $2.25 billion.

The SDRs had decreased $10.8 million to $4.39 billion during the week ended Nov 16 while reserves with the IMF had gone down by $5.5 million to $2.24 billion.

more from Business

Rajan holds interest rates, EMIs unlikely to dip soon

The Reserve Bank of India (RBI) kept rates on hold on Tuesday despite pressure from industry and government hopes that the central bank would lower borrowing costs to aid an incipient economic recovery.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved