Forex reserves up $1.31 billion at $288.65 billion

Last Updated: Friday, August 3, 2012 - 21:09

Mumbai: The foreign exchange reserves swelled by USD 1.31 billion to touch USD 288.65 billion on a jump in core currency assets, the Reserve Bank said on Friday.

The reserves had swelled by USD 589 million to USD 287.34 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were up by USD 1.291 billion to USD 256.39 billion for the week ended July 27, the Reserve Bank said today.

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.

The gold reserves were unchanged at USD 25.76 billion, the apex bank said.

For the week under review, the special drawing rights (SDRs) were up by USD 13.5 million to USD 4.358 billion, while the country's reserve position with the IMF was also up USD 6.7 million to USD 2.138 billion, the apex bank data showed.

PTI

First Published: Friday, August 3, 2012 - 21:09

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