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Forex reserves rise to $45.16 billion

India's foreign exchange reserves rose marginally to
$45.16 billion in the week ended October 26, continuing the upward trend of the previous four weeks, data from the central bank showed on Saturday.

Reserves rose by $24 million from $45.14 billion in the previous week, boosted mainly by an increase in foreign currency assets, the RBI said in its weekly statistical supplement.

Gold reserves remained unchanged at $2.93 billion.

India's foreign currency assets, which are expressed in dollar terms, include the effect of appreciation or depreciation of currencies other than the US dollar, such as the euro, sterling and yen, held in reserves.

India has been seeing a steady trickle of dollar supplies in recent weeks from remittances by exporters and some foreign fund inflows, analysts say.

Foreign funds were net buyers of $ 163.3 million worth of Indian stocks and bonds in October.

The dollar supplies have kept the Indian currency stable in the past few weeks.

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