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Dec 22, 2012
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Forex reserves increase $1.63 billion
The country’s foreign exchange (forex) reserves increased $1.637 billion to $296.631 billion for the week ending December 14, according to the Reserve Bank of India.
During the previous reporting week ending December 7, the country’s forex reserves had seen a rise of $484.2 million to $294.993 billion, the RBI said.Forex reserves constitute a country’s foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the reserve position in the IMF. A major component of the forex reserves, FCAs are expressed in the US dollar terms and include the effect of appreciation/depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.
Source -
http://www.thehindubusinessline.com
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