India's forex reserves up $1.96 billion

Last Updated: Sun, Mar 24, 2013 11:30 hrs

Mumbai, March 24 (IANS) India's foreign exchange (forex) reserves increased by $1.96 billion to $292.31 billion for the week ended March 15, according to data released by the central bank.

The reserves had decreased by $223.9 million to $290.35 billion for the week ended March 8.

The foreign currency assets (FCA) - the biggest component of the forex reserves - grew by $1.97 billion at $259.35 billion, according to the weekly statistical supplement released by the Reserve Bank of India (RBI).

The FCA dipped by $225.5 million at $257.38 billion in the previous week.

The central bank said FCA in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.

Gold reserves value remained the same at $26.29 billion.

However, the special drawing rights (SDRs) decreased by $3.3 million to $4.34 billion during the week under review, while reserves with the International Monetary Fund (IMF) went down by $1.7 million to $2.32 billion.

The SDRs had increased by $1.1 million to $4.35 billion during the previous week, while reserves with the IMF had marginally went up by $0.5 million to $2.32 billion.

More from Sify: