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04-29-2012, 07:09 AM #1
India's forex reserves rise by $1.46 billion
ndia's foreign exchange (forex) reserves rose by $1.46 billion to $294.60 billion for the week ended April 20, official data showed. Forex reserves had risen by $213.8 million to $293.14 billion in the previous week.
Foreign currency assets, the biggest component of the forex reserves kitty, rose by $1.45 billion to $260.21 billion during the week under review, according to the weekly statistical supplement of the Reserve Bank of India (RBI), the country's central bank.
The RBI did not provide any reasons for the upward change in foreign currency assets.
The foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve, the RBI said.
The value of special drawing rights (SDRs) rose by $5.2 million to $4.45 billion and reserves with the International Monetary Fund (IMF) increased by $3.4 million to $2.90 billion.
However, gold reserves remained unchanged at $27.02 billion.