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Forex reserves up $4.4 billion at $295.7 billion as of December 6: RBI

Mumbai: Growing for a fifth consecutive week, India's forex reserves added $4.41 billion to $295.71 billion in the week ended December 6 on account of a rise in foreign currency assets, the Reserve Bank of

India TV News Desk [ Updated: December 14, 2013 22:10 IST ]
forex reserves up 4.4 billion at 295.7 billion as of
forex reserves up 4.4 billion at 295.7 billion as of december 6 rbi

Mumbai: Growing for a fifth consecutive week, India's forex reserves added $4.41 billion to $295.71 billion in the week ended December 6 on account of a rise in foreign currency assets, the Reserve Bank of India said (RBI) on Friday.


Last week, the reserves recorded the single biggest weekly gain since October 2011 surging by a whopping $5.04 billion to $291.3 billion.

Foreign currency assets (FCAs), which form a major part of the overall reserves, jumped by $5.019 billion to $268.755 billion for the week under review, the apex bank said.

FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in reserves.

During the week under review, the gold reserves dropped by $624.2 million to $20.603 billion, while the special drawing rights rose by $8.9 million to $4.442 billion.

India's reserve position with the IMF rose by $3.8 million to $1.909 billion during the period, the RBI data showed.

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