Forex reserves up USD 3.704 bn
Forex reserves up USD 3.704 bn Forex reserves witnessed a rise of USD 3.704 billion to touch USD 235.891 billion, as on Sep. 21, 2007, primarily on the back of rise in foreign currency and assets collections, week on week basis. As per the weekly statistical supplement of the Reserve Bank of India (RBI) released on Sep. 28, 2007, foreign currency and assets rose USD 3.702 billion to USD 228.572 billion. On the other hand, gold reserves and SDRs (special drawing rights) remained flat at USD 6,881 million and USD 2 million respectively. During the same period, reserve position in the IMF increased USD 2 million to USD 436 million. Foreign currency assets expressed in USD terms include the effect of appreciation/depreciation of non-US currencies (such as Euro, Sterling and Yen) held in reserves.
