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Our Bureau

Mumbai April 20 Forex reserves have increased by over $2.7 billion for the week ended April 13 on the back of FII inflows and strengthening of non-dollar currencies against the greenback.

The country's forex reserves grew by $2.772 billion to $203.092 billion.

India's forex kitty had crossed $200 billion the previous week. It had increased by $1.141 billion to touch $200.320 billion for the week ended April 6.

Foreign currency assets during the week ended April 13 increased by $2.769 billion to $195.844 billion, according to the RBI's Weekly Statistical Supplement.

Foreign currency assets, as expressed in dollars, include the effect of appreciation or depreciation in non-US currencies (euro, sterling and yen) held in reserves.

"The rise in forex reserves was basically due to strengthening of euro against the dollar to $1.34. Other non-dollar currencies, like sterling, also gained against the dollar," said a dealer at a private bank.

Gold reserves and SDRs remained unchanged at $6.784 billion and $2 million respectively. The country's reserve position in the IMF increased by $3 million to $462 million.

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