Forex reserves rise by $1.45 bn to $294.98 bn

Forex reserves rise by $1.45 bn to $294.98 bn Mumbai: After dipping for two weeks, the country's foreign exchange kitty rose by USD 1.45 billion to USD 294.98 billion for the week ending November 23 amid increase in foreign currency assets, RBI said today.

The total reserves had slipped by USD 32.7 million to USD 293.53 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were up by USD 1.44 billion to USD 260.13 billion during the week ended November 23, the RBI said in its weekly statistical supplement.

Foreign currency assets expressed in US dollar terms include the effect of appreciation/depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.

The gold reserves remained unchanged at USD 28.19 billion during the week, the apex bank said.

For the week under review, the special drawing rights (SDRs) were up by USD 15.1 million to USD 4.402 billion while the country's reserve position with the IMF was down by USD 20.5 million to USD 2.250 billion, according to RBI data.