Forex reserves rise by $1.1 bn in Apr-Dec

Written by Press Trust of India | Mumbai | Updated: Mar 30 2013, 06:13am hrs
The country's foreign exchange reserves rose for the second consecutive week, going up by $1.05 billion to $293.37 billion on a rise in the core currency assets, the Reserve Bank of India (RBI) said.

The total reserves had risen nearly $2 billion to $292.3 billion in the previous reporting week. Foreign currency assets, a major component of the forex reserves, were up $1.06 billion to $260.41 billion for the week ended March 22, the RBI 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 gold reserves remained unchanged at $26.292 billion.

For the week under review, special drawing rights decreased by $7.5 million to $4.342 billion.