Forex reserves swells to USD 283 bn

Foreign currency assets, which is a major component of the reserves, grew USD 1.037 billion to USD 256.714 billion, from USD 255.677 billion a week ago, the Reserve Bank of India said in its weekly data released today.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies, such as euro, sterling and yen, held in the reserves, the apex bank said.

All the other components of the foreign exchange reserves -- gold reserves (USD 19.89-billion), special drawing rights (USD 4.987 billion) and India's reserve position in the International Monetary Fund (USD 1.343 billion)-- remained unchanged during the week, the Reserve Bank data showed.

Comments (+)