Forex Reserves Rise by $749 mn.

Mumbai: After sliding for two consecutive weeks, the country's foreign exchange reserves rose by USD 749 million to USD 312.231 billion, the Reserve Bank said Friday.
     
The reserves had fallen by USD 1.23 billion in the previous reporting week to USD 311.48 billion.
     
Foreign currency assets, the biggest component of foreign reserves, were up by USD 763 million to USD 276.462 billion for the week ended October 7, the apex bank said in its weekly data released this evening.
     
Foreign currency assets expressed in US dollar include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.
     
The country's gold reserves remained unchanged at USD 28.667 billion, the apex bank data said. Both the special drawing rights (SDRs) and country's reserve position in the International Monetary Fund were down  marginally during the week, the central bank said.
     
The SDRs slipped by USD 9 million to USD 4.495 billion while India's reserve position in IMF was down by USD 5 million to USD 2.607 billion, the apex bank data said.

Source : zeenews.india.com