India's forex reserves rise to $313.83 bn in week ended May 9: RBI

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India's forex reserves rise to $313.83 bn in week ended May 9: RBI
India's forex reserves rose in the week ended May 9 as foreign investors continued to pour in funds into the equity markets amid hopes that the country will elect a stable government at the centre in Asia's third biggest economy

Foreign exchange reserves rose by USD 1.97 billion to USD 313.83 billion in the week ended May 9, 2014 over the previous week, data from the country's central bank, the Reserve Bank of India (RBI) showed on Friday.

In the week ended May 2, 2014, forex reserves stood at USD 311.86 billion, the report said.

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 1.98 billion to USD 286.55 billion in the week ended May 9, 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 20.97 billion in the week ended May 9, 2014 from the previous week, data showed

Read more about: forex reserves, rise, rbi
Story first published: Monday, May 19, 2014, 9:20 [IST]
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