Forex reserves up $172 m

MUMBAI, JAN. 20. Foreign currency reserves have risen by $172 million to $40.4 billion in the second week of the new year ended January 12.

The increase was mainly due to increase in foreign currency assets by $172 million to $37.54 billion from $37.37 billion in the previous week, according to the Weekly Statistical Supplement issued by the Reserve Bank of India.

The rise is mostly due to increase in fund inflows and appreciation of the Euro, RBI sources said. In the week ended January 5, foreign currency reserves had gone up by $173 million to $$40.18 billion.

Over the past ten weeks, the reserves rose from $34.73 billion on November 11 to the present level of $40.35 billion.

Gold reserves and special drawing rights remained static at $2.81 billion and $2 million respectively in the reporting week.

- PTI

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