Forex reserves up $982 million at $290.66 billion
22 Jun 2013
India's Foreign exchange reserves have increased by around $982 million to $290.66 billion despite the rupee recording massive losses to the US dollar, Reserve Bank of India (RBI) said on Friday.
Total reserves with the RBI, including gold, foreign bonds and SDRs, have increased by $1.78 billion to $289.7 billion over the week, RBI said.
Foreign currency assets, a major component of the forex reserves, rose by $962.5 million to $261.09 billion for the week ended 14 June, according to RBI.
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, RBI added.
Gold reserves were unchanged at $22.836 billion, while the country's holding on the IMF's special drawing rights (SDRs) were up by $13 million to $4.401 billion.The country's reserve position with the IMF was also up by $6.8 million to $2.333 billion, RBI data showed.
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