Forex reserves stem 5-week decline
20/10/2014 13:09
India’s foreign exchange reserves rose for the first time in six weeks in the week ended October 10, 2014 driven by a rise in foreign currency assets with the Reserve Bank of India (RBI) speculated to have purchased some dollars from the forward market.
Forex reserves rose by USD 1.309 billion to USD 312.737 billion in the week ended October 10, 2014 from the previous week, data from the RBI showed on Friday.
In the week ended October 3, 2014, India’s foreign exchange reserves had declined by USD 2.754 billion to USD 311.427 billion.
Forex reserves had reached USD 320.56 billion in the week ended July 25, 2014, just shy from a record high of USD 320.79 billion on September 2, 2011.
Foreign currency assets, which are expressed in dollar terms and include the effect of appreciation or depreciation of non US currencies such as euro, pound and yen held in reserves, rose by USD 1.297 billion to USD 286.885 billion in the week ended October 10, 2014 from the previous week, the RBI added.
Foreign currency assets are the biggest component of the overall forex reserves. India's gold reserves stood unchanged at USD 20.013 billion in the week ended October 10, 2014 from the previous week, data showed.
20/10/2014 13:09
India’s foreign exchange reserves rose for the first time in six weeks in the week ended October 10, 2014 driven by a rise in foreign currency assets with the Reserve Bank of India (RBI) speculated to have purchased some dollars from the forward market.
Forex reserves rose by USD 1.309 billion to USD 312.737 billion in the week ended October 10, 2014 from the previous week, data from the RBI showed on Friday.
In the week ended October 3, 2014, India’s foreign exchange reserves had declined by USD 2.754 billion to USD 311.427 billion.
Forex reserves had reached USD 320.56 billion in the week ended July 25, 2014, just shy from a record high of USD 320.79 billion on September 2, 2011.
Foreign currency assets, which are expressed in dollar terms and include the effect of appreciation or depreciation of non US currencies such as euro, pound and yen held in reserves, rose by USD 1.297 billion to USD 286.885 billion in the week ended October 10, 2014 from the previous week, the RBI added.
Foreign currency assets are the biggest component of the overall forex reserves. India's gold reserves stood unchanged at USD 20.013 billion in the week ended October 10, 2014 from the previous week, data showed.
