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Forex Reserves Surge By $3.307 Billion

Shilpa Mahapatre 4 August 2007

Forex On the back of jump in foreign currency and assets collections, Forex reserves soared up by USD 3.307 billion to USD 225.35 billion as on July 27.

According to RBI’s weekly statistical supplement, foreign currency and assets got to USD 218.096 billion on the back of USD 3.306 billion. In the same period, reserve position in IMF dropped by USD 10 million to USD 455 million.

Gold reserves remained unaltered at USD 6,787 million, whereas the special drawing rights (SDRs) climbed by USD 11 million to USD 12 million correspondingly.

Foreign currency assets expressed in USD terms take in the outcome of appreciation/depreciation of non-US currencies (such as Euro, Sterling and Yen) held in reserves.

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