Saturday, June 6, 2009

Forex reserves up

Forex reserves increased by USD 1,667 million to touch USD 262,306 billion as on May 29, 2009, mainly due to 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 Jun. 5, 2009, foreign currency assets rose by USD 1,291 million to stand at USD 251,456 million.

During the same period, the reserve position in the International Monetary Fund (IMF) increased by USD 3 million to stand at USD 1,245 million. The gold reserves increased by USD 373 million to stand at USD 9,604 million.

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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