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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.

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