India's forex reserves rise to USD 293.37 billion

Published: 29th March 2013 06:13 PM  |   Last Updated: 29th March 2013 06:13 PM   |  A+A-


The country's foreign exchange reserves rose for the second consecutive week, going up by USD 1.05 billion to USD 293.37 billion on a rise in the core currency assets, the Reserve Bank said today.

The total reserves had risen by nearly USD 2 billion to USD 292.3 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were up by USD 1.06 billion to USD 260.41 billion for the week ended March 22, 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 remained unchanged at USD 26.292 billion, it said.

For the week under review, special drawing rights decreased by USD 7.5 million to USD 4.342 billion, while the reserve position in the IMF slid by USD 4.1 million to USD 2.317 billion, the apex bank data showed.

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