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India's forex reserves cross $310 billion news
03 June 2011
Foreign exchange reserves of the country rose by $1.68 billion to reach $310.21 billion as forex inflows continued for the second consecutive week.
India's forex reserves had increased by $1.04 billion to 308.53 billion in the previous week.
Most of the increase in forex reserve has come from a $1.67 billion increase in the country's foreign currency assets, the largest component of the forex reserves, which stood at $278.87 billion during the week ended 27 May 2011, weekly data released by the Reserve Bank of India (RBI) showed.
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 reserve, RBI said.
Gold reserves remained unchanged at $23.79 billion during the week.
India's special drawing rights (SDRs) as also its reserve position in the IMF showed marginal improvements during the week, the RBI said.
SDRs increased by an equivalent of $6 million to $4.591 billion while India's reserve position in the IMF rose $4 million to $2.961 billion.

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India's forex reserves cross $310 billion