Forex reserves up $589m
28 July 2012
MUMBAI, 27 JULY: The country's foreign exchange reserves went up by $589 million to $287.34 billion for the week ended 20 July amid rise in core currency assets, the Reserve Bank said today.
The reserves had fallen by $872.7 million to $286.75 billion in the previous reporting week.
Foreign currency assets, a major component of the forex reserves, were up by $565.5 million to $255.10 billion during the reporting week, the Reserve Bank said.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.
The gold reserves were unchanged at $25.76 billion, the apex bank said. For the week under review, the special drawing rights (SDRs) were up by $15.8 million to $4.345 billion, while the country's reserve position with the IMF was also up by $7.7 million to $2.131 billion, the apex bank data showed. pti