Mumbai, Oct. 23 Foreign exchange reserves rose $2.975 billion to $284.836 billion for the week ended October 16, according to figures released in the Reserve Bank of India’s weekly statistical supplement. The rise in the reserves was mainly on account of revaluation of reserves.
This is the third consecutive week in which the reserves have risen. For the week ended October 9, the reserves had increased by $1.521 billion to $281.861 billion.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies.
In the week under consideration, the foreign currency assets increased by $2.956 billion to $267.898 billion.
Gold reserves remained unchanged at $10.316 billion. SDRs were up by $15 million at $5.250 billion. The reserve position in the IMF increased by $4 million at $1.372 billion.
Source : Business Line