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2014-06-23

India\'s forex reserves up by $950.9mn: RBI

As per the Reserve Bank of India (RBI) data, India\\\'s foreign exchange (forex) reserves rose by $950.9 million to $313.53 billion for the week ended June 13, led by a sharp jump in overseas currency assets.

As per the Reserve Bank of India (RBI) data, India's foreign exchange (forex) reserves rose by $950.9 million to $313.53 billion for the week ended June 13, led by a sharp jump in overseas currency assets.

 

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $958.5 million to $286.58 billion.

 

Foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.

 

India's reserve position with the International Monetary Fund (IMF) dropped by $2.1 million to $1.71 billion. The value of special drawing rights (SDRs) fell by $5.5 million to $4.44 billion. However, the value of gold reserves remained unchanged at $20.79 billion.

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