Forex reserves up by USD 3.6 bn

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Mumbai, Oct 12 (UNI) India's forex reserves rose firmly by 3.6 billion US Dollars to touch USD 251.33 billion in the week ended October 5, due to rise in foreign currency and assets collections on a weekly basis.

The Reserve Bank of India (RBI), in its weekly statistical supplement today, said the foreign currency and assets rose by USD 3.6 billion to USD 243.524 billion.

The rise in foreign currency assets is partly because of changes in the value of the dollar against the euro, yen and other currencies during the period, the central bank said.

However, special drawing rights (SDRs) and gold reserves remained flat at USD 2 million and USD 7,367 million respectively.

During the same period, the reserve position in the International Monetary Fund (IMF) decreased by USD 1 million at USD 437 million.

Foreign currency assets expressed in USD, include the effect of appreciation or depreciation, on non-US currencies (such as Euro, Pound Sterling and Yen) held in reserves.

UNI

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