India's forex reserves up USD 177 mn
India's foreign exchange (forex) reserves increased by USD 177.8 million to USD 293.28 billion for the week ended Jan 10, Reserve Bank of India (RBI) data showed.
The foreign exchange reserves had declined by $2.59 billion to $293.10 billion for the week ended Jan 3 2013.
According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, grew by $190.3 million to $267.14 billion.
The foreign currency assets had fell by $1.68 billion to $266.95 billion in 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) decreased by $8.6 million to $4.42 billion during the week under review. India's reserve position with the International Monetary Fund (IMF) was down by $3.9 million to $1.99 billion.
The value of India's gold reserves remained stagnant at $19.72 billion.
(Posted on 18-01-2014)