Forex kitty swells by $1.46 bn to reach $283.6 bn

Business

oi-Staff

By Super

Published: Saturday, November 23, 2013, 9:36 [IST]

Mumbai: The forex reserves jumped for the second consecutive week by adding USD 1.459 billion in the week to November 15, taking the overall reserves to a healthy USD 283.57 billion, on account higher foreign currency assets, the Reserve Bank said Friday.

In the week-ago period, reserves rose by USD 819.5 million to USD 282.113 billion. Foreign currency assets, which form the largest chunk of the reserves, rose 1.465 billion to USD 255.90 billion in the week under review, the RBI said.

Foreign currency assets expressed in 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 gold reserves stood unchanged at USD 21.227 billion in the week ended on November 15, reflecting the tepid movement in prices.

The special drawing rights fell by USD 3.9 million to USD 4.411 billion. The country's reserve position with the IMF also fell by USD 2 million to USD 2.029 billion in the week under review, RBI data showed.

PTI