Forex Reserves Climb $1.53 Bn To $230.377 Bn

Forex reserves saw an increase of USD 1.53 billion to reach USD 230.377 billion as on Sep. 7, 2007, mainly on the back of increase in foreign currency and assets collections, week on week basis.

The RBI weekly statistical supplement, released on Sep.14, 2007 showed that foreign currency and assets ascended USD 1.553 billion to USD 223.062 billion.

In contrast, gold reserves and SDRs (special drawing rights) stayed flat at USD 6,881 million and USD 2 million correspondingly.

The reserve position in the IMF declined USD 23 million to USD 432 million in the same period.

Foreign currency assets expressed in USD terms take in the effect of admiration or reduction of non-US currencies including such as Euro, Sterling, and Yen held in reserves.