Forex reserves rise by $2.27 billion

Forex reserves rise by $2.27 billionBusiness Line - Jul 24, 2009 23:39:37Mumbai, July 24 Foreign exchange reserves increased by $2.27 billion to $266.187 billion for the week ended July 17, according to figures released in the Reserve Bank of Indias weekly statistical supplement.

Forex reserves up by USD 1,524 mn

Forex reserves increased by USD 1,524 million to touch USD 267,711 million as on July 24, 2009, mainly due to rise in foreign currency and assets collections on a weekly basis.As per the weekly statistical supplement of the Reserve Bank of India (RBI) released on July 31, 2009, foreign currency assets increased by USD 1,519 million to stand at USD 256,657 million.During the same period, the reserve position in the International Monetary Fund (IMF) increased marginally by USD 5 million to stand at USD 1,253 million. The gold reserves remained steady at USD 9,800 million.Foreign currency assets expressed in USD include the effect of appreciation or depreciation on non-US currencies (such as Euro, Sterling and Yen) held in reserves