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Forex reserve up by USD 4.068 bn

Written by: Staff
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Mumbai, Nov 10: India's forex reserves increased by 4.068 billion US Dollars to touch USD 266.518 billion for the week ended November 2, as compared to USD 262.45 billion.

The Reserve Bank of India (RBI) said in its Weekly Statistical Supplement that the foreign currency assets went up by USD 3.64 billion to USD 258.264 billion for the week.

Foreign reserves were riding high for last two months on good foreign funds inflow in the country. A part was also contributed by the reported intervention of the RBI to mop up excess liquidity in the market, dealers said.

Foreign currency assets, as expressed in dollars, include the effect of appreciation or depreciation in non-US currencies (euro, sterling and yen) held in reserves.

As per the figures released by the RBI, after a month without any change, the country's gold assets marked an increase of USD 444 million to touch USD 7.811 billion. However, SDRs were unchanged at USD 13 million and the reserves in IMF went down by USD 11 million to USD 430 million.

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