Forex reserves jump by $1.09 billion to $295.45 billion

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Forex reserves jump by $1.09 billion to $295.45 billion
Foreign exchange reserves jumped by $1.088 billion, to touch $295.45 billion due to an increase in foreign currency assets, the Reserve Bank of India (RBI) said on Friday.

In the previous reporting week, the reserves had surged by $954.6 million to $294.36 billion.
Foreign currency assets (FCAs), a major part of the overall reserves, increased by $1.07 billion to $267.97 billion for the week ended March 7, the RBI said.

FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in its reserves.

The gold reserves remained stable at $20.978 billion, the data showed.

The special drawing rights also rose by $12.6 million to $4.481 billion, while the country's reserve position with the IMF increased by a $5.7 million to $2.017 billion, the apex bank said.

PTI

Story first published: Saturday, March 15, 2014, 10:02 [IST]
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