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India's forex reserves up USD 1.26 bn

Posted on Feb 15 2014 | IANS

Mumbai, Feb 15 : India's foreign exchange (forex) reserves increased by USD 1.26 billion to USD 292.33 billion for the week ended Feb 7, Reserve Bank of India (RBI) data showed.

The foreign exchange reserves had decreased by USD 1.16 billion to USD 291.07 billion for the week ended Jan 31.

According to the RBI's weekly statistical supplement foreign currency assets, the biggest component of the forex reserves, grew by USD 1.26 billion to USD 265.83 billion.

The foreign currency assets had fallen by USD 1.48 billion to USD 264.56 billion in the week ended Jan 31.

RBI said that the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.

The value of special drawing rights (SDRs) decreased by USD 1.3 million to USD 4.42 billion during the week under review. India's reserve position with the International Monetary Fund (IMF) fell by USD 1.5 million to USD 1.99 billion.

The value of India's gold reserves grew by USD 351.2 million at USD 20.07 billion.

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