India's Forex Reserves up $641 mn to $296.43 bn.

MUMBAI: The country's foreign exchange reserves went up by $641-million to $296.43-billion on the back of a sizable jump in foreign currency assets, making it the fifth consecutive weekly rise in the kitty.

The country's total forex reserves had gone up by $1.63-billion to $295.79-billion the previous week.

Foreign currency assets, a major component of the forex pie, shot up by $582-million to $268.68-billion for the week, data released by the Reserve Bank of India (RBI) on Friday showed.

Foreign currency assets expressed in US dollar terms 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 were unchanged at $20.51-billion while there was a marginal, $43-million rise in India's Special Drawing Rights (SDRs) to $5.211-billion, the data showed.

The country's reserve position in the International Monetary Fund was also marginally up by $16-million to $2.024-billion, the apex bank data showed.

Source : economictimes.indiatimes.com