Forex reserves nudge up to $295.29 billion

India’s forex reserves rose $55.6 million to $295.29 billion in the week ended October 26. In the preceding week (which ended on October 19), the reseves increased by $359.4 million to $295.23 billion.

In the reporting week, the increase in reserves was mainly on account of the foreign currency assets increasing by $86.9 million.

However, special drawing rights (SDRs) and the country’s reserve position in the IMF fell by $20.7 million and $10.6 million, respectively.

During the week, gold reserves remained unchanged at $28.132 billion.

The reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and reserve position in the International Monetary Fund (IMF).

Since December-end 2011, the country’s reserves have declined by $1.39 billion.

satyanarayan.iyer@thehindu.co.in