Forex reserves swell to $253.83 bn

Forex reserves swell to $253.83 bn
PTI
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First Published: Fri, Mar 27 2009. 09 01 PM IST
Updated: Fri, Mar 27 2009. 09 01 PM IST
Mumbai: India’s forex reserves went up to $253.83 billion for the week ended 20 March, up $5.1 billion, compared to $248.72 billion in the previous week.
The jump in reserves was primarily due to a $5 billion increase in foreign currency assets (FCA), which rose to $243.238 billion during the week from $238.16 billion in the previous week, the Reserve Bank of India (RBI) weekly data released on Friday showed.
Reserves had risen by $1.43 billion for the week ended 13 March, after falling by $2.23 billion in the previous two weeks.
FCAs expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as Euro, Sterling and Yen, said the RBI.
India’s gold reserves and special drawing rights (SDR), during the week, stood unchanged at $9.746 billion and $1-million respectively, the apex bank said.
The country’s reserve position in the International Monetary Fund rose by $21 million during the week to $841 million compared to $820 million in the previous week, the RBI data said.
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First Published: Fri, Mar 27 2009. 09 01 PM IST