Forex reserves rise by USD 282.3 mn to USD 290.46 bn

The total reserves had risen USD 1.26 billion to USD 290.18 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were down by USD 252.4 million to USD 257.62 billion for the week ended August 31, the Reserve Bank said today.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves, the apex bank said.

After remaining unchanged for many weeks, the gold reserves rose by a stunning USD 524.7 million to USD 26.24 billion, the apex bank said.

For the week under review, the special drawing rights (SDRs) were up by USD 16.2 million to USD 4.393 billion, while the country's reserve position with the IMF was down USD 22 million to USD 2.209 billion, the apex bank data showed.