India's forex reserves marginally up at $280.19 bn

India's forex reserves marginally up at $280.19 bn
Mumbai: The country's foreign exchange reserves rose by USD 21.1 million to USD 280.19 billion, the Reserve Bank said on Friday.

The total reserves had dipped by USD 4.48 billion to USD 280.16 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were up by USD 33.5 million to USD 252.14 billion for the week ended July 12, Reserve Bank said today.

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.

After a heavy USD 1 billion plus fall last week, the gold reserves were unchanged at USD 21.55 billion, the apex bank said.

For the week under review, the special drawing rights (SDRs) were down by USD 1.5 million to USD 4.334 billion, while the country's reserve position with the IMF was also down by USD 19.1 million to USD 2.162 billion, the apex bank data showed.


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