SEARCH

Business » Economy

Updated: April 4, 2014 21:49 IST

Forex reserves jump $5.04 bn to $303.7 bn

PTI
Comment   ·   print   ·   T  T  
A file picture of a scene at a foreign exchange firm in New Delhi. Photo: V. Sudershan.
The Hindu
A file picture of a scene at a foreign exchange firm in New Delhi. Photo: V. Sudershan.

The foreign exchange reserves rose by a hefty $ 5.038 billion to $ 303.673 billion in the week to March 28, on a surge in currency assets, the Reserve Bank said on Friday.

Total foreign exchange reserves had increased by $ 1.348 billion to $ 298.635 billion in the previous reporting week.

In December 2011, the reserves had touched $ 300 billion and in February that year it had touched a historic high of $323 billion.

Foreign currency assets (FCAs), a major part of the overall reserves, rose by $ 5.01 billion to $ 276.41 billion for the week ended March 28, the RBI said.

Foreign currency assets, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in its reserves.

The gold reserves remained unchanged at $ 20.978 billion, as per the RBI data.

The special drawing rights were down by $ 3.6 million to $ 4.458 billion, while the country’s reserve position with the IMF rose by $ 30 million to $ 1.83 billion, the apex bank said.

Keywords: RBIForex reserves

More In: Economy | Business
This article is closed for comments.
Please Email the Editor

Commodity prices

Take a look at the prices of various commodities in Chennai here»


O
P
E
N

close

Recent Article in Economy

Divergent thinking

Any signs of government influence in the central bank’s decisions would worry investors, given India’s history of high spending, which, if accompanied by low interest rates, could lead to a surge in inflation and deepening debt problems. »