India's forex reserves up by USD 714 million

Mumbai, Dec 30: The country's forex reserves went up by USD 714 million to stand at USD 176.233 billion during the week ended December 22 as against USD 175.519 billion during the week ended December 15.

According to figures released by the Reserve Bank of India (RBI) on Friday, the reserves were down by USD 75 million during the preceeding week ended December 15 as compared to a week ago.

The reserves position in the International Monetary Fund (IMF) also went down by two million to USD 547 million.

Meanwhile, the Foreign Currency Assets increased by USD 712 million to USD 169.191 billion during the seven-day period ended December 22. Foreign currency assets in dollars included the effect of revaluation of non-US currencies such as Euro, Sterling and Yen held in reserves.

Gold reserves and SDRs remained static at USD 6.494 billion and USD one million respectively.

UNI