Forex reserves up at USD 287.37 bn



Forex reserves up at USD 287.37 bn Mumbai: India's foreign exchange reserves rose by USD 651 million for the week ended December 4 to USD 287.374 billion from USD 286.723 billion in the previous week.

The foreign currency assets (FCAs), during the week, slipped to USD 262.427 billion as compared to USD 262.449 billion in the week-ago period, the RBI said in its weekly report here.

FCAs, expressed in the US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as Euro, Sterling, Japanese Yen held in reserves, the RBI said.

Gold reserves, during the period under review, jumped to USD 18.182 billion this week as against USD 17.5 billion in the last week, while the special drawing rights (SDRs) declined to USD 5.303 billion from USD 5.310 billion in the week ago period, the RBI said.

The country's reserve position in the International Monetary Fund declined slightly to USD 1.462 billion during the period, the RBI said.

-PTI