India’s forex reserves up by $1.45 bn

Mumbai, Dec 1 (IANS) India’s foreign exchange (forex) reserves went up by $1.45 billion to $294.98 billion for the week ended Nov 23, the Reserve Bank of India (RBI) data show.

The reserves had gone down by $32.7 million to $293.52 billion in the previous week. The forex had declined by $781.5 million to $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 $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 $28.18 billion since the week ended Nov 2, when the value of gold reserves rose by 56.4 million at $28.18 billion.

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

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

IANS 2012-12-01 15:56:06