Mumbai: After five consecutive weeks of falls, India’s foreign exchange reserves grew by $1.30bn to $312.73bn for the week ended October 10, Reserve Bank of India data showed.
The reserves had fallen by $2.75bn to $311.42bn for the week ended October 3. It had slipped by $1.41bn to $314.18bn for the week ended September 26. Again the reserves went into decreasing trend falling by $101.3m to $315.59bn for the week ended September 19.
According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, rose by $1.29bn at $286.88bn in the week under review.
The foreign currency assets had plunged by $1.80bn at $285.58bn in the previous week. The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.
India’s reserve position with the International Monetary Fund (IMF) gained $3.3m. The value of special drawing rights (SDRs) was up by $9.3m at $4.29bn.
The value of gold reserves was static in the week under review at $20.01bn. The bullion had declined by $919.7m at $20.01bn for the week ended October 3. IANS
