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India's forex reserves surge to $292.33 bn

February 15, 2014 15:16 IST

India's foreign exchange reserves surged by $ 1.26 billion to $ 292.33 billion in the week ended February 7 on the back of a healthy increase in the currency assets, the Reserve Bank said.

The total reserves had dipped by $ 1.17 billion to $ 291.07 billion in the previous reporting week.

Foreign currency assets (FCAs), a major part of the overall reserves, rose by $ 1.260 billion to $ 265.832 billion in the week under review, the apex bank said.

FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in its reserves.

During the week, the gold reserves were unchanged at $ 20.075 billion.

The Special Drawing Rights fell by $ 1.3 million to $ 4.428 billion, while India's reserve position with the IMF declined by $ 1.5 million to $ 1.993 billion, RBI said.

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