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India's forex reserves up by USD 1.45 bn

Posted on Dec 01, 04:51PM | IANS

India's foreign exchange (forex) reserves went up by USD 1.45 billion to USD 294.98 billion for the week ended Nov 23, the Reserve Bank of India (RBI) data show.

The reserves had gone down by USD 32.7 million to USD 293.52 billion in the previous week. The forex had declined by USD 781.5 million to USD 293.55 billion for the week ended Nov 9.

The foreign currency assets (FCA) - the biggest component of the forex reserves - increased by 1.44 billion at USD 260.13 billion, according to the weekly statistical supplement released by the RBI.

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

However, the gold reserves value had remained unchanged at USD 28.18 billion since the week ended Nov 2, when the value of gold reserves rose by 56.4 million at USD 28.18 billion.

The special drawing rights (SDRs) increased by USD 4.8 million to USD 4.40 billion during the week under review, while reserves with the International Monetary Fund (IMF) were up by USD 2.5 million to USD 2.25 billion.

The SDRs had decreased USD 10.8 million to USD 4.39 billion during the week ended Nov 16 while reserves with the IMF had gone down by USD 5.5 million to USD 2.24 billion.