| Date: |
14-03-2011 |
| Subject: |
Forex kitty gets a $1.8 bn push |
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MUMBAI: Foreign exchange reserves rose $1.8 billion during the week ended March 4 to $285.1 billion, largely on account of revaluation of non-dollar assets in reserves. The government has withdrawn its surplus balances with the Reserve Bank of India, the latest update on the financial sector developments released by the central bank on Friday shows.
The latest figures indicate that of the total foreign exchange reserves comprising foreign currency assets (FCA), gold and special drawing rights (SDR — reserves currency with the International Monetary Fund) rose $1.54 billion, reflecting the valuation gains in non-dollar assets. The value of SDR and the reserve capital with IMF rose $28 million and $12 million, respectively, during the week.
Source : economictimes.indiatimes.com
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