Forex reserves up by $1.26 bn

Forex reserves up by $1.26 bn Mumbai: The country's foreign exchange reserves rose by USD 1.26 billion to USD 295.25 billion for the week ended January 11, on the back of sharp rise in currency assets, the Reserve Bank of India said on Friday.

The total reserves had slipped by USD 1.59 billion to USD 294.99 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were up by USD 1.214 billion to USD 262.276 billion for the week ended January 11, the RBI said in its weekly statistical supplement.

After plummeting in the previous reporting week, gold reserves remained unchanged at USD 27.22 billion, the apex bank said.

For the week under review, the special drawing rights (SDRs) were up by USD 31.3 million to USD 4.433 billion, while the country's reserve position with the IMF rose by USD 16.5 million to USD 2.324 billion.

PTI