RBI shores up exposure in overseas securities

As at end-March 2009, out of the total foreign currency assets of US$241.4 billion, US$134.8 billion was invested in securities, an increase of US$23.5 billion over September 2008, said the RBI Report on Foreign Exchange Reserves.

However, the forex reserves at the end of September 2008 stood at US$277.3 billion and the investment in the overseas securities was at US$111.2 billion. “The foreign currency assets are invested in multi- currency, multi-asset portfolios as per existing norms which are similar to the best international practices.” it said.