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Forex reserves up $500m

MUMBAI SEPT. 28. After last week's slide, India's foreign exchange reserves are on the upside again at $62.521 billion, witnessing a rise of $500 million during the week ended September 20. The upsurge was largely due to revaluation of the dollar vis-a-vis Euro and fresh inflows.

For the reporting week, foreign currency assets increased by $500 million to $59.303 billion, according to the weekly statistical supplement released by the Reserve Bank of India here today.

The RBI said gold reserves and special drawing rights remained unchanged at $3.208 billion and $10 million respectively in the week ended September 20.

PTI

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