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India's foreign reserves up $1.63 billion

Last Updated: Saturday, December 22, 2012 - 23:25

Mumbai: India's foreign exchange (forex) reserves went up by USD 1.63 billion to USD 296.63 billion for the week ended Dec 14, data released by the Reserve Bank of India (RBI) said Saturday.

The reserves had gone up by USD 484.2 million to USD 294.99 billion in the week ending Dec 7.

The foreign currency assets (FCA) - the biggest component of the forex reserves - increased by USD 1.61 billion at USD 262.11 billion, according to the weekly statistical supplement released by the RBI.

The FCA was up 492.7 million to USD 260.50 billion in the week ending Dec 7.

The central bank said FCA in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.

Gold reserves value remained the same at USD 27.80 billion. Their value had dipped by USD 386.2 million in the week ended Nov 30. The value had remained unchanged at USD 28.18 billion since the week ended Nov 2, when the value of gold reserves rose by USD 56.4 million.

The special drawing rights (SDRs) increased by USD 15.4 million to USD 4.43 billion during the week under review, while reserves with the International Monetary Fund (IMF) were up by USD 7.8 million to USD 2.27 billion.

The SDRs had decreased by USD 8.9 million to USD 4.42 billion during the week ended Dec 7 while reserves with the IMF had gone up by USD 0.4 million to USD 2.26 billion.


First Published: Saturday, December 22, 2012 - 23:25
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