FOREX RESERVES UP BY $1.524 BN TO $267.711 BN

Press Trust of India / Mumbai July 31, 2009, 20:41 IST

India's foreign exchange reserves rose for the second consecutive week to $267.711 billion, up by $1.524 billion, as compared to $266.187 billion in the previous week.

Country's foreign currency assets, during the week, showed a rise of $1.519 billion to $256.657 billion from $255.138 billion in the previous week, the Reserve Bank of India (RBI) said in its weekly report today.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies (such as euro, sterling, yen) held in reserves, the central bank said.

Country's gold reserves and special drawing rights, during the period, stood unchanged at $9.800 billion and $1 million respectively, RBI said.

India's reserve position in the International Monetary Fund (IMF) rose to $1.253 billion during the week as compared to $1.248 billion in the previous week, RBI added.