Forex reserves rise by USD 2,724 mn
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Forex reserves rose USD 2,724 million to touch USD 311,885 million as on Apr. 11, 2008, mainly due to the increase in foreign currency and assets collections, on a weekly basis.
As per the weekly statistical supplement of the Reserve Bank of India (RBI) released on Apr. 11, 2008, foreign currency and assets moved up USD 2,247 million to USD 301,394 million.
During the same period, the reserve position in the International Monetary Fund (IMF) reduced by USD 3 million to USD 434 million. While, gold reserves increased by USD 481 million to USD 10,039 million.
Foreign currency assets expressed in USD include the effect of appreciation or depreciation on non-US currencies (such as Euro, Sterling and Yen) held in reserves.
By IRIS
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