India's forex reserves up $500 mn to $310 bn as on Apr 25: RBI

Subscribe to GoodReturns

India's forex reserves up $500 mn to $310 bn as on Apr 25: RBI
India's foreign exchange reserves climbed last week driven by a rise in foreign currency assets as overseas investors continue to inject funds into the Indian equity market ahead of the election results on May 16, 2014 in the hope of the formation of a growth, reform and investor friendly government in Asia's third biggest economy.

Forex reserves rose by USD 500 million to USD 309.91 billion in the week ended April 25, 2014 from the previous week, data from the RBI showed on Friday.

In the week ended April 18, 2014, India's forex reserves snapped a seven-week rising streak, falling by USD 31.6 million to USD 309.41 billion over the previous week.

Foreign currency assets, which are expressed in dollar terms and include the effect of appreciation or depreciation of non US currencies such as euro, pound and yen held in reserves, rose by USD 493.2 million to USD 282 billion in the week ended April 25, 2014 from the previous week, the RBI added.

Foreign currency assets are the biggest component of the overall forex reserves.

India's gold reserves stood unchanged at USD 21.566 billion in the week ended March 28, 2014 from the previous week, data showed.

Read more about: rbi, forex reserve
Story first published: Monday, May 5, 2014, 9:20 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?