| Date: |
22-09-2012 |
| Subject: |
Forex reserves jump by $2.44 bn to $294.5 bn |
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India's foreign exchange reserves rose by USD 2.44 billion to USD 294.47 billion on the back of a healthy increase in the currency assets during the week ended September 14.
The total reserves had risen USD 1.58 billion to USD 292 billion in the previous week. Foreign currency assets (FCAs), a major component of the forex reserves, shot up by USD 2.39 billion to USD 261.51 billion for the week under review, the Reserve Bank's weekly statistical data showed Friday.
FCAs, expressed in US dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and the yen, held in the reserves.
Gold reserves remained unchanged at USD 26.24 billion during the week, the apex bank said. For the week under review, the special drawing rights (SDRs) were up by USD 65.4 million to USD 4.471 billion, while the country's reserve position with the IMF was up USD 32.9 million to USD 2.249 billion, the apex bank data showed.
Source : moneycontrol.com
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