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India's forex reserves swell by $4.5 bn

April 04, 2008 19:48 IST
Source:PTI
India's foreign exchange reserves increased by a whopping $4.504 billion to stand at $309.16 billion for the week ended March 28.

The forex reserves had dipped by $1.8 billion a week before to stand at $304.65 billion.

Foreign currency assets increased by $4.498 billion to $299.147 billion, against $294.649 billion in a week-ago period, the Reserve Bank said.

The foreign currency assets expressed in dollar include the effect of appreciation or depreciation of non-US
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currencies such as Euro, Sterling and Yen held in reserve, it said.

India's reserve position in the International Monetary Fund increased by $5 million to stand at $437 million.

During the period, gold reserves remained static at $9.558 billion while the special drawing rights increased by a million to $19 million, the RBI said.
Source: PTI
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