India's forex reserves up at $175.51 bn

India's forex reserves went up by $75 million to stand at $175.519 billion during the week ended December 15 as against $175.444 billion during the week ended December 8.

The reserves were down by $45 million during the preceding week ended December eight, compared to a week ago period.

The foreign currency assets also increased by $79 million to $168.479 billion during the seven-day period ended December 15, 2006, according to figures released by the Reserve Bank of India.

Foreign currency assets in dollars include the effect of revaluation of non-US currencies such as Euro, Sterling, Yen held in reserves.

The reserve position in the IMF also went down by four million to stand at $545 million. Gold reserves and SDRs remained static at $6.494 billion and $1 million respectively.