The Hindu Business Line : Forex reserves rise $2.2 b

Mumbai, March 14 The country’s foreign exchange reserves increased by $2.225 billion to $303.460 billion for the week ended March 7 on account of revaluation of currency assets, said dealers.

The reserves had gone up by $6.625 billion to touch $301.235 billion for the week ended February 29, said the Weekly Statistical Supplement from the Reserve Bank of India.

The foreign currency assets grew by $2.221 billion at $293.471 billion. 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 reserves in gold remained unchanged at $9.558 billion while that in IMF went up by $4 million at $431 million.

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