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India's forex reserves up USD 157 mn

Posted on Feb 01 2014 | IANS

Mumbai, Feb 1 : India's foreign exchange (forex) reserves increased by USD 157.3 million to USD 292.23 billion for the week ended Jan 24, Reserve Bank of India (RBI) data showed.

The foreign exchange reserves had decreased by USD 1.20 billion to USD 292.08 billion for the week ended Jan 17

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, grew by USD 117.3 million to USD 266.05 billion.The foreign currency assets had fallen by USD 1.20 billion to USD 265.93 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) increased by USD 27.6 million to USD 4.45 billion during the week under review. India's reserve position with the International Monetary Fund (IMF) grew by USD 12.4 million to USD 2.00 billion.

The value of India's gold reserves remained stagnant at USD 19.72 billion.

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