Wednesday, September 16, 2009

India's forex reserves jumps to $262.306 billion



MUMBAI: India's forex reserves rose by $1.667 billion to $262.306 billion, for the week ended May 29, as compared to $260.639 billion in the previous week.

Reserves had gone up by $6 billion for the week ended May 22 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.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies (such as Euro, Sterling, Yen) held in reserves, RBI said in its weekly report.

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 International Monetary Fund (IMF) rose to $1.245 billion as compared to $1.242 billion in the previous week, RBI said.

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