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India's forex reserves up USD 1.45 bn

Posted on Feb 22 2014 | IANS

Mumbai, Feb 22 : India's foreign exchange (forex) reserves increased by USD 1.45 billion to USD 293.78 billion for the week ended Feb 14, Reserve Bank of India (RBI) data showed.

The foreign exchange reserves had increased by USD 1.26 billion to USD 292.33 billion for the week ended Feb 7.

According to the RBI's weekly statistical supplement foreign currency assets, the biggest component of the forex reserves, grew by USD 1.41 billion to USD 267.24 billion.

The foreign currency assets had grown USD 1.26 billion to USD 265.83 billion for the previous week.

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) gained by USD 30.5 million to USD 4.45 billion during the week under review. India's reserve position with the International Monetary Fund (IMF) grew by USD 13.5 million to USD 2 billion.

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