Saturday, December 8, 2007

Forex reserves up USD 1,239 mn

Forex reserves witnessed a rise of USD 1,239 million to touch USD 273,520 million as on Nov. 30, 2007, primarily as a result of rise 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 Dec. 7, 2007, foreign currency and assets rose USD 694 million to USD 264,725 million.

During the same period, the reserve position in the international monetary fund (IMF) decreased USD 1 million to USD 435 million, while gold reserves rose USD 546 million to USD 8,357 million.

While SDRs (special drawing rights) remained flat at USD 3 million respectively.

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.

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