India Forex Reserves $289.992 Billion Jun 29; Up $1.365 Billion on Week

07/06/2012| 07:59am US/Eastern

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By Nupur Acharya

India's foreign-exchange reserves rose by $1.365 billion to $289.992 billion in the week ended June 29, central bank data showed Friday.

The Reserve Bank of India's weekly statistical supplement showed reserves rose mainly due to an increase of $1.175 billion in the bank's foreign-currency assets.

The RBI doesn't provide a reasons for the changes in foreign-currency assets, but says that the assets expressed in dollar terms capture fluctuations in the value of non-U.S. currencies held in reserves.

 
   The following figures are in millions of dollars: 
                     Jun.29                   Change 
                       2012           Over Week     Over Year 
Foreign Currency*  $259,958.4          $1,175.3     -$26,500.0 
Gold                $25,760.2            $175.2       $1,091.8 
SDRs                 $4,379.1              $8.4        -$234.5 
Reserve With IMF     $2,894.5              $5.6         -$80.2 
TOTAL              $289,992.2          $1,364.5     -$25,722.9 
 

*Excludes $673 million invested in foreign-currency denominated bonds issued by IIFC (UK).

Write to Nupur Acharya at nupur.acharya@dowjones.com

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