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Forex reserves up over USD 2 bn at USD 289.4 bn

Published: Saturday, June 23, 2012, 0:00 [IST]

Posting a rise for the second consecutive week, the foreign exchange reserves increased by USD 2.01 billion to touch USD 289.39 billion on the back of healthy addition of the core currency assets during the week ending June 15, the Reserve Bank said today.

The total reserves had increased by USD 1.5 billion to USD 287.38 billion in the previous reporting week. Foreign currency assets, the major component of the forex reserves, were up by USD 1.93 billion to USD 256.5 billion for the week ended June 15, Reserve Bank said in its weekly statistical supplement.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said. However, the gold reserves were unchanged at USD 25.58 billion, the apex bank said. For the week under review, the special drawing rights (SDRs) were up by USD 25.7 million to USD 4.385 billion, while the country's reserve position with the IMF was also up USD 58.3 million to USD 2.89 billion, the data showed.

PTI

Topics: forex reserves
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