India's forex reserves close to $300-bn
29 Jan 2011
Mumbai: India's foreign exchange reserves increased by $1.97 billion to $299.39 billion for the week ended 21 January, up from $297.41 billion in the previous week, ending 14 January.
Foreign currency assets, a major component of the forex basket, also increased to $269.55 billion, up $1.685 billion for the week ended 21 January 21, the Reserve Bank of India said.
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.
India's gold reserves remained unchanged at $22.47 billion while both the special drawing rights (SDRs) and reserve position in the IMF increased.
The country's SDRs increased by $25 million to $5.126 billion, while the reserve position in the IMF rose by $267 million to $2.24-billion, the RBI data showed.
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