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India's Foreign Exchange Reserves touched 279.24 Billion US Dollars

Oct 20, 2013 14:28 IST

India's foreign exchange (forex) reserves gained 1.51 billion US dollars to touch 279.24 billion US dollars for the week ended 11 October 2013.As per the Reserve Bank of India (RBI) Weekly Statistical Supplement, India's Foreign Currency Assets (FCA), the biggest component of the forex reserves, increased by 1.52 billion US dollars to 250.85 billion US dollars for the week under review.

RBI said the FCA expressed in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen. The value of India's gold reserves remained the same.

However, India's reserve position with the International Monetary Fund (IMF) declined by 4.7 million US dollars to 2.19 billion US dollars and the value of the Special Drawing Rights (SDRs) fell by 9.6 million US dollars to 4.43 billion US dollars.

For the week ended 4 October 2013, the country's reserve with IMF had risen by 7.2 million US dollars to 2.19 billion US dollars and the value of the SDRs increased by 14.7 million US dollars to 4.43 billion US dollars.

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Read more Current Affairs on: India , RBI , Foreign Exchange reserves

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