Forex reserves rise $749 m

Our Bureau Updated - November 12, 2017 at 09:13 PM.

The country's foreign exchange reserves rose by $749 million to $312.231 billion in the week ended October 7, according to Reserve Bank of India's Weekly Statistical Supplement.

In the previous week ended September 30, foreign exchange reserves had declined by $1.225 billion to $311.482 billion.

The reserves rose due to an increase of $763 million in the foreign currency assets to $276.462 billion.

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

In the week under consideration, the euro strengthened against the dollar from $1.3176 on Monday to $1.3378 on Friday.

India's reserve position at the International Monetary Fund in the week under review fell by $5 million to $2.607 billion. SDRs also saw a $9-million drop to $4.495 billion, while gold reserves remain unchanged at $28.667 billion.

Published on October 14, 2011 16:30