SME Times News Bureau | 28 Oct, 2013
Country's foreign exchange (forex) reserves gained USD 1.88 billion to touch USD 281.12 billion for the week ended Oct 18, official data showed.
Forex reserves had risen by USD 1.51 billion to touch USD 279.24 billion for the week ended Oct 11.
According to the Reserve Bank of India (RBI) Weekly Statistical Supplement, India's foreign currency assets (FCA), the biggest component of the forex reserves, increased by USD 1.84 billion to USD 252.69 billion for the week under review.
RBI said the FCA expressed in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.
The FCA had increased by USD 1.52 billion to USD 250.85 billion for the week ended Oct 11.
The value of India's gold reserves remained the same. The reserves had increased by USD 41.3 million and stood at USD 21.76 billion during the week ended Oct 11.
However, India's reserve position with the International Monetary Fund (IMF) rose by USD 12.7 million to USD 2.20 billion and the value of the special drawing rights (SDRs) gained by USD 25.6 million to USD 4.45 billion.
For the week ended Oct 11, the country's reserve with IMF had declined by USD 4.7 million to USD 2.19 billion and the value of the SDRs fell by USD 9.6 million to USD 4.43 billion.
