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India’s forex reserves rise by $. 1.502 billion to $ 400.297 billion

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Reversing a three-week downtrend, India's foreign  exchange reserves rose by $ 1.502 billion to $ 400.297 billion during the week ended October 13, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had dipped by $ 862.2 million to $ 398.794 billion during the previous week.
 
In its weekly statistical supplement today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 1.478 billion to $ 375.274 billion during  the week.
 
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves remained unchanged at $ 21.240 billion, while its special drawing rights (SDRs) increased by $ 9.5 million to $ 1.503 billion.
 
India’s reserve position in the International Monetary Fund (IMF) rose by $ 14.3 million to $ 2.278 billion during the week, the bulletin added.
 
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