India’s forex kitty swells by $1.66 billion
06 Jun 2009
India's foreign exchange reserves increased by $1.667 billion to reach $262.306 billion as on 29 May from $260.639 billion a week earlier, the Reserve Bank of India said in its weekly statistical supplement on Friday.
Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves such as the euro, pound sterling and yen, the central bank said. The reserves include India's Reserve Tranche position in the International Monetary Fund.
Reserves had gone up by $6 billion for the week ended 22 May after falling by $1.734 billion in the week before.
Foreign currency assets, during the week, jumped to $251.456 billion, up $1.291 billion, as compared to $250.165 billion in the previous week.
The country's gold reserves during the week went up to $9.604 billion as against $9.231 billion in the previous week, while the special drawing rights (SDR) stood unchanged at $1 million, the central bank said.
India's reserve position in the IMF rose to $1.245 billion as compared to $1.242 billion in the previous week, RBI said.
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