India’s foreign exchange reserves up by $266 million
24 Sep 2011
According to official data, India's foreign exchange (forex) reserves rose by $266 million to $316.76 billion for the week ended 16 Septmber after declining by $4.29 billion in the previous week.
Meanwhile, during the week under review, foreign currency assets, the biggest component of the forex reserves kitty, rose by $202 million to $280.90 billion, according to the weekly statistical supplement of the Reserve Bank of India (RBI).
The foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies including the pound sterling, euro and yen held in reserve. The previous week had seen the assets decline by $4.17 billion.
The value of special drawing rights (SDRs) was up $2 million to $4.55 billion while reserves with the International Monetary Fund (IMF) increased by $62 million to $2.99 billion.
However, gold reserves underwent no change at $28.32 billion, after they had surged by $2.97 billion during the week ended 2 September due to revaluation in prices.
India's foreign reserves kitty was pushed up to an all-time high of $320.78 billion for the week ended 2September.
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