SME Times News Bureau | 27 Dec, 2014
India's foreign exchange reserves grew by USD 3.16 billion to USD 319.99 billion for the week ended Dec 19, Reserve Bank of India (RBI) data showed.
In the previous week (Dec 12) the reserves had increased by USD 2.17 billion to USD 316.83 billion.
According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, gained USD 3.31 billion at USD 295.67 billion in the week under review.
The foreign currency assets had gained $2.40 billion at USD 292.36 billion in the previous week (Dec 12).
The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.
India's reserve position with the International Monetary Fund (IMF) fell by USD 117.6 million and stood at $1.14 billion.
The value of special drawing rights (SDRs) was lower by USD 2 million at USD 4.19 billion.
Gold reserves for the week under review were static at USD 18.98 billion. The bullion had declined by USD 753.2 million in the week ended Dec 5.
