Business Daily from THE HINDU group of publications
Friday, May 30, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Friday, May 30, 2008 ePaper | Mobile/PDA Version |
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Update at 1900 hrs (IST)
Macro Economy Forex reserves swell to $316.171 billion MUMBAI: India's foreign exchange reserves rose to a record $316.171 billion, up $2.09 billion, for the week ended May 23, as compared to the previous week's figure of $314.081 billion. Reserves had shown a jump of $1.3 billion for the week ended May 16. The country's foreign currency assets (FCAs), during the period, went up by $2.085 billion to $306.203 billion from $304.118 billion in the previous week, the Reserve Bank said in its w eekly report today. The FCAs expressed in US Dollar terms include the effect of appreciation or depreciation of non-US currencies such as Euro, Sterling and Yen held in reserves, the RBI said. Gold reserves and the special drawing rights, during the week, stood unchanged at $9.427 billion and $11 million, the RBI data said. A similar increase was seen in India's reserve position in the International Monetary Fund during the week, which rose to $530 million as against $525 million in the previous week, the RBI said. - PTI
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