SME Times News Bureau | 20 Dec, 2014
Country's foreign exchange reserves grew by USD 2.17 billion to USD 316.83 billion for the week ended Dec 12, Reserve Bank of India (RBI) data showed.
In the previous week (Dec 5)the reserves had fallen by USD 1.64 billion to USD 314.66 billion.
According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, gained USD 2.40 billion at USD 292.36 billion in the week under review.
The foreign currency assets had plunged USD 867.4 million at USD 289.95 billion in the previous week (Dec 5).
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 253.5 million and stood at USD 1.26 billion.
The value of special drawing rights (SDRs) was higher by USD 19.9 million at USD 4.22 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 previous week (Dec 5).
