Forex Reserve of India - India forex rises, gold reserves unchanged
Written by admin on Tuesday, June 29th, 2010 in Forex Reserve of India.
India Tuesday 29 June 2010 - India’s foreign exchange reserves rose to $275.969 billion, rose by $3.2 billion during the week ended 18 June. The reserves stood at $272.783 billion as of 11 June.
At the same time, foreign currency assets with the Reserve Bank increased to $250.370 billion from $247.241 billion last week.
The nation’s reserve position with the International Monetary Fund amounted to $1.310 billion, larger than the $1.298 billion reported in the preceding week.
Gold reserves remained unchanged at $19.423 billion.
The rise in reserves was attributed largely on account of the dollar weakening against major currencies during the week, which resulted in revaluation of non-dollar assets in the reserves.
Besides, foreign investors also brought additional funds into Indian stocks and bonds during the week.