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»

The World Economic Forum's Annual meet



O
P
E
N

close

Recent Article in Economy

Janet Yellen.

Fed promises ‘patient’ approach to rate hikes

The Federal Reserve is edging closer to raising interest rates from record lows given a strengthening U.S. job market and economy. But i... »