Forex reserves rise $484 m to $295 b

India’s foreign exchange reserves were up $484 million and stood at $294.99 billion for the week ended December 7, 2012, according to the Reserve Bank of India weekly supplement released on Friday.

Foreign currency assets (FCAs) were up $492.7 million at $260.505 billion and gold reserves remained unchanged at $27.80 billion. Special Drawing Rights decreased marginally and stood at $4.42 billion.

The reserves had gone down $471.3 million in the previous reporting week at $294.50 billion.

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