India's forex reserves riseby $2.48 bn

[IndianTiger]

Dec 11, 2011, 02.47PM IST IANS
MUMBAI: India's foreign
exchange reserves climbed by
$2.48 billion to $306.84 billion
for the week ended December
2, rising for the first time in five weeks due to an increase
in the value of foreign
currency assets and gold
reserves, official data showed.
This is the first time in the last
five weeks the forex reserves kitty has registered a gain.
The kitty had dropped by
over $16 billion in the
previous four weeks.
They had dropped by $4.26
billion and $5.71 billion respectively in the previous
two weeks.
Foreign currency assets, the
biggest component of the
forex reserves kitty,
increased by $1.31 billion to $ 271.69 billion for the week
ended Dec 2, according to the
weekly statistical supplement
of the Reserve Bank of India
(RBI).
RBI does not provide any reason for the change in the
foreign currency assets.
It says the assets expressed in
US dollar terms include the
effect of appreciation or
depreciation of non-US currencies such as the pound
sterling, euro and yen held in
reserve.
The value of gold reserves
climbed by $1.14 billion at $
28.04 billion. India's reserves with the
International Monetary Fund
(IMF) increased by $7 million
to $2.61 billion and the value
of special drawing rights
(SDRs) rose by $12 million to $ 4.50 billion.

 

[Splurgenxs]

well expect the rupee to get a little stronger.

a good sign for Importers

 

[Shinigami]

2.5b$ rise is like pocket change compared to many other countries.

still something is better than nothing

 

[Che Guevara]

only 2.5bn$

 

[karan.1970]

only 2.5bn$

thats approx 1% inc in a week.. Bacche ki jaan loge kya??

 

[T90TankGuy]

it will take the rupee at least another 4 weeks to stabilize.