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India Forex Rates

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India's forex reserves rise by USD 1.31 billion

Mumbai, Aug 4 (IANS)India's foreign exchange (forex) reserves grew by USD 1.31 billion to USD 288.64 billion for the week ended July 27, 2012, Reserve Bank of India data showed.

The forex had earlier risen by USD 589 million to USD 287.34 billion for the week ended July 20, 2012.

The country's forex reserves had declined by USD 872.7 million in the week ended July 13, 2012.

Foreign currency assets, the biggest component of the forex reserves kitty, increased by USD 1.29 billion to USD 256.39 billion for the week under review, according to weekly statistical supplement released by the RBI.

The foreign currency assets had risen by USD 565.5 million to USD 255.10 billion for the week ended June 20.

The RBI said the assets in US dollar terms included the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.

The value of special drawing rights (SDRs) grew by USD 13.5 million to USD 4.35 billion during the week ended July 27, while India's reserves with the International Monetary Fund (IMF) rose by USD 6.7 million to USD 2.13 billion.

However, the value of gold reserves remained unchanged at USD 25.76 billion. (IANS)

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