The Hindu Business Line : Forex reserves rise $1.06 b

THE country's foreign exchange reserves moved up by $1.06 billion during the week ended February 11, taking the total reserves to $129.980 billion from $128.914 billion in the previous week, as per the latest RBI statistics.

The rise in reserves can be primarily ascribed to a revaluation in the central bank's basket of currencies, according to analysts.

According to the Weekly Statistical Supplement of RBI, foreign currency assets moved by $1.07 billion to $124.177 billion. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, the sterling and the yen held in reserves.

Gold reserves remained steady at $4.390 billion, while Special Drawing Rights increased by $5 million to touch $10 million.

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